1.Definitive Trendline 2.Double top 3.Trendline breakout 4.Retest.....???? If this fails, and it rallies, I'll look for shorts at/near/around RED ZONE.
With patience, an ant could be bisected. - An African Proverb ^_ ^
MooreKapital
Building Stable Wealth With Patience.
Comment
⋅
Trade Active, and stop moved to BE. In fact, my earlier entry short was much higher, but I removed due to the gapping down, which was filled up quickly. But I wont give up! I re-entered @ 0.88060 and trade doing great so far. Seeking for MEASURE MOVE target = 0.74853, And that should equate to about 1 300pips I dont know when, but Im holding this thing for God knows how long. ;)
See attached image for how I'm doing this on my PAMM, where I manage money for clients.: moorekapital-gmail.tinytake.com/sf/MzY2ODU0XzIwODk0MjA (Dont forget to click on "full screen to enlarge image for a better view.
using IDC data might give diff view
that trendline looks delicious ^_^
moorekapital
⋅
Clearly the prevailing trend is bullish. But we broke trendline, and not just that, we dipped below prior swing low. Price looks testing broken TL. And given where price sits currently, either the current swing low or swing high= DOUBLE TOP looks threatened. My bias obviously is bullish continuation but price can do anything at this point in time.
moorekapital
⋅
On daily chart, if this is a valid impulse, then Im banking on the retracement= Countertrend trade.
moorekapital
⋅
I think on your weekly chart up there, you clearly sketched a possible retrace ;)