-3 Week pennant
-Huge volume at 0.035 floor which has served as support in the past
-There has been a notable shift from illiquid pinbars, blocks and gaps, to liquid, normalized trading ranges
-Bol Band squeeze on the daily signaled this potential reversal
Willing to take 30 basis points of risk on a break to the upside. The scenario exists that there could be chop before a decisive move ensues
Measured move depicted in graph but will more likely trail stops under 30EMA
-Huge volume at 0.035 floor which has served as support in the past
-There has been a notable shift from illiquid pinbars, blocks and gaps, to liquid, normalized trading ranges
-Bol Band squeeze on the daily signaled this potential reversal
Willing to take 30 basis points of risk on a break to the upside. The scenario exists that there could be chop before a decisive move ensues
Measured move depicted in graph but will more likely trail stops under 30EMA
Comment:
Buy order in place. unfortunately no margin products available
Trade active:
Order filled, Long 30 basis points
Comment:
Stop moved 0.090
Comment:
Correction, 0.089
Trade closed: stop reached:
Upsetting, was quite optimistic on this one. But when the chart turns sour, its time to get out.