I just entered right now at .0742 for the completed Shark pattern. Price seems to be stalling in this area and there is bearish divergence present on both the RSI and AO. The hourly AO just turned red as well for a little extra confluence.
I am only risking ~10 pips on this first try and targeting 0.6927 for a potential bullish 5-0 pattern. As per my strategy when I am up ~10 pips (equal to the risk) I will move to breakeven/cover costs and see what happens.
I am only risking ~10 pips on this first try and targeting 0.6927 for a potential bullish 5-0 pattern. As per my strategy when I am up ~10 pips (equal to the risk) I will move to breakeven/cover costs and see what happens.
Comment:
On 1 minute chart (time is 10:06) the price just spiked back up to .7043 (previous high) and immediately dropped back down 8 pips. I am happy I decided to be patient in moving the stops this time. The price has now dropped to .703, and I am moving my stops to cover costs @ 0.7041
Comment:
Prepared to see something like this before the completion of the 5-0...will do my best to watch and if price aggressively breaks the channel to the upside I will likely cover my short and look to re-short higher.
If I am sleeping and this happens I will just let it ride as the stop is already covering costs :)
Prepared to see something like this before the completion of the 5-0...will do my best to watch and if price aggressively breaks the channel to the upside I will likely cover my short and look to re-short higher.
If I am sleeping and this happens I will just let it ride as the stop is already covering costs :)
Trade closed: stop reached:
Stopped out at breakeven once again :/