MY TRADE PLAN
I am closing 70% OF ALL LONG positions and leaving 30% to ride and trailing that 30% with a 30 pip stop. Why such a tight stop in comparison to the overall profits? Because I am expecting a reversal back down soon if not sooner. It may continue higher right up the completion and the upper or it may reverse now. It's hard to know but I'll be watching the price action for clues to close the remaining 30% and go SHORT. But for now, I'm taking profits and watching closely.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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We have reached my exspected level -the target of the sh-pattern.
Now it s getting very interesting. This Level is a potential selling zone - a MoB - the R/R for a short looks phantastic.
Can the eurusd brake through that selling zone, a big buying-signal would be generated.A possible target of the Breakout could be the 62,8 fibo-retracement @ 1,1755 from the move 1,25-1,044.
I exspect a shortterm pullback to 1,1190 ( "3?")
LITTLE INVERSE SHS ?
Will the shs push the price to the upper edge of the triangle?
Green: preferred Szenario
Gey: Alternative Szenario