I am looking for an upside correction simply on a pattern completion. We have the main descending resistance and the 50-days slightly above current level, where we might see a reactive downside pullback and an opportunity to go long.
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
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My best regards
Skype: Technician - The forex channel
It's a lesson to be learnt; there is no fundamental analysis what so ever for us (normal traders), they would never let out that info. What you get is the lies of what larger banks WANT you to think you know, that's it. It's a very expensive lesson to be learnt, but hope this message reaches out to someone else out there! :)
Thanks again, and still waiting for your website!
I do 100% of my analysts myselfs. Technician did a really nice job.
Whats more important is trade management. And always stick to your trading journal.
I didn't listen that much, it just affected my SL, I moved it above for a 50 pip consolidation, and I wish I didn't!
I know I wrote a lot! lol, I just wanted to share my story hoping that it might reach someone out there, to learn what they can and keep reading, but have an own opinion to decide, and stick to what they believe in.