SignalSwiss

$EURGBP: Consolidation Time?

FX:EURGBP   Euro Fx/British Pound
717 9 24
Levels on Chart

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closed our long position
+1 Reply
Bullish Engulfing on D-,... rebound?



snapshot
+3 Reply
What will make you decide to go with one or the other? What do you need to see to confirm that you should hold the position? What is the level of confidence you have in this trade setup? How much % of equity, do you think, ought to be risked and where should the stop be placed? Stop out below the green box?
Reply
Hi Tim,
- What will make you decide to go with one or the other? In this case I have two levels of monitoring, then I'll have to wait for an initial rebound and monitor its retracement, he often builds a abcd and try the point "C" as entry level. stop on canceling pattern. (watch minor TF)
- What do you need to see to confirm that you should hold the position? I go in search of a reversal pattern, probably on a time frame less (H4)
- How much % of equity, do you think, ought to be risked and where should the stop be placed? Stop out below the green box? stop out following the cancellation of the pattern, but a lot depends on your money management.

I replied in my best way, but it often happens that theory and practice are diverging, then the best thing would be to follow step by step analysis.
Thanks for your questions and happy trading!
+6 Reply
timwest PRO SignalSwiss
Thanks SignalSuisse. I know it is hard to think about publishing right in the heat of the moment of a trade setup, but that's what I'd love to see here. A "buy" or a "sell" with whatever reasons and a stop. Instead of a "watch this level for something" or "watch that level for something" and "maybe" I'll take a trade. I look forward to your posts. Cheers. Tim
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alexfa timwest
Thx so much for that Tim!!!
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if you have a few minutes, looking at my analysis you will notice that some have stop, entry and target, others not. There is not much difference between "analysis" and "setup", not always an analysis becomes a trading plan, especially when you do "swing trading" ....happy trading Tim!
+4 Reply
Agreed!
Reply
I'm expecting a fall to 0.69 minumum and maybe even lower to hit the lower channel bottom for channel support.
snapshot
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