Is this double bottom
. Maybe. Why maybe? We nee a break of the highs. Would I enter at current price. No. Why? Why to enter in no mans land. Remember going long at demand and selling at supply. What am I expecting? We might get relief rally due to Brestay vote. How will I trade? The prevailing trend is bearish
, due to failed BOJ and FED monetary policy
. If the price breaks the high I might try to squeeze a long trade if the market comes back to 104.80 to load big orders. Where is your target? The supply at 106.Are you going to close the position? Half and I will trail the rest. How? I keep trailing the lows formed around the 20 4H ema
. IN the moment low is taken out I will close the rest!
So this is how I an thinking and trading. I have tried many techniques but some how this approach fits to my process. So basically I trade the 20 ema
on the 1D, 4H