Pending long at broken neckline
I am looking for an upside correction simply on a double bottom pattern completion. We have the main descending resistance and the 50-days SMA slightly above current level, where we might see a reactive downside pullback and an opportunity to go long.
Trading Criteria:
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
Notes:
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
Good luck...
Exclusively Subscribers to my mailing list will get one month access to my trading account . subscribe here thefxchannel.com/ ,
My best regards
Technician
I am looking for an upside correction simply on a double bottom pattern completion. We have the main descending resistance and the 50-days SMA slightly above current level, where we might see a reactive downside pullback and an opportunity to go long.
Trading Criteria:
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
Notes:
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
Good luck...
Exclusively Subscribers to my mailing list will get one month access to my trading account . subscribe here thefxchannel.com/ ,
My best regards
Technician