EURUSD - Flag after breakout from downchannel at 4H trendline
Im looking to buy this (maybe)ABCD flag formation if we can break above it. upside potential is huge up all the way to the solid blue line
Trade active
Comment:
i will take 1/3 off here and pull my stop tight below the consolidation. as the market moves im not too happy with it. we might see a bigger ABCD here(so a move down soon) that why im already taking a 1:1 winner here plus tighter stops. if we we break the lows i will have nearly no loss. i can always add to the position if we break the upper trendline anyway
Comment:
if you are trading it with stops below the lower blue dashed line, then you ofc dont have to worry about it
and if we still go higher from here, i will still have 2 position to look for good profits. plus (like i said) there are always chances to make the position bigger again
and if we still go higher from here, i will still have 2 position to look for good profits. plus (like i said) there are always chances to make the position bigger again
Comment:
stopped out for a small loss.
sidenote: my stop was always below the consolidation, and i cant widen my stop just because i expect a downward abcd. so i took my other option and protect myself as good as i can against a potential loss.
im still looking to reenter at a later point. setup is still valid and active after all. just no followthrough on the original breakout
sidenote: my stop was always below the consolidation, and i cant widen my stop just because i expect a downward abcd. so i took my other option and protect myself as good as i can against a potential loss.
im still looking to reenter at a later point. setup is still valid and active after all. just no followthrough on the original breakout
