Hello guys, tell me your opinion. I am thinking to trade like this. Is good? I am a newbie on Technical Analysis Follow me on Facebook: tinyurl.com/k9v4x4u
I would be inclined to sell the top of the channel to reduce risk
and increase reward ratio's - perhaps @1.3855 with the same stops.
Assuming you're looking at a simply channel trade.
And even though the gap has technically been filled it seems to me that
markets like to fill such gaps, eventually, with full bodied candles.
So, a trade up to 1.3880 seems very possible to me.
Plus, there is a nice ab=cd trade potential with good harmonics
with a 1.618 point D right at 1.3880. You might want to check it out.
I'll be watching for a short in that area if the candlesticks yield a trigger.
Hope you have lots of success in 2014 !!!!
Thanks for posting the chart
PSoulfidis
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thanks for the comment! :D I will look at it.
PSoulfidis
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I will wait forr the chart to reach the resistant level first. If the chart go down to the support level first, then i will buy to sell on the resistant level again.
Fomenka
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Why 1.38454 and not straight down?
PSoulfidis
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Wow right! Its my first attempt, so xD Its a good trade to sell there?
and increase reward ratio's - perhaps @1.3855 with the same stops.
Assuming you're looking at a simply channel trade.
And even though the gap has technically been filled it seems to me that
markets like to fill such gaps, eventually, with full bodied candles.
So, a trade up to 1.3880 seems very possible to me.
Plus, there is a nice ab=cd trade potential with good harmonics
with a 1.618 point D right at 1.3880. You might want to check it out.
I'll be watching for a short in that area if the candlesticks yield a trigger.
Hope you have lots of success in 2014 !!!!
Thanks for posting the chart