Hey guys, some updates before I end the week.
Took a loss on a USDJPY trade yesterday.
This morning I saw a bullish shark formation on EURUSD.
Pattern Identification
Bullish Shark at 1.05.
Price has bounced off the PRZ last night, moving about 20 pips north.
Trade Execution
Currently I am waiting for a retest of 1.05 and I will only execute a buy if I see a nice pinbar rejection at this level.
Trade will not be executed if
1. Price just bashes below 1.05
2. Price just goes up without retesting 1.05
I like this trade, it looks alot like the USDJPY bullish shark setup where I skipped the 88.6 XC PRZ and missed the entire move up even though it completed a type 2 trade. (See related ideas)
Took a loss on a USDJPY trade yesterday.
This morning I saw a bullish shark formation on EURUSD.
Pattern Identification
Bullish Shark at 1.05.
Price has bounced off the PRZ last night, moving about 20 pips north.
Trade Execution
Currently I am waiting for a retest of 1.05 and I will only execute a buy if I see a nice pinbar rejection at this level.
Trade will not be executed if
1. Price just bashes below 1.05
2. Price just goes up without retesting 1.05
I like this trade, it looks alot like the USDJPY bullish shark setup where I skipped the 88.6 XC PRZ and missed the entire move up even though it completed a type 2 trade. (See related ideas)
Order cancelled:
Price went up without retesting 1.05. Trade idea no longer valid.
