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moorekapital
Sep 11, 2015 9:15 AM

USDZAR: SHORT BELOW THIS =>>> 

U.S. Dollar/South African RandFXCM

Description

I short below the 4H line earlier. Took profit, and re-entered.

1.Deep Blue Line = Prior BOL. A trade below this would be fantastic = New Swing Low Probably.
2. Lower Channel Line expected to bounce price, but would be sweet if it fails.
3. Immediate target is daily short level indicated on chart.

I have a sell stop on the daily chart, below this line.
Lets's see what happens........
;)
Comments
moorekapital
KevinSinghDhaliwal
Nice clean charts
moorekapital
The Leg Up....????
moorekapital
Look to how many times this level is being tested. Is it going to give in or hold firm n bounce price...???
moorekapital
Seems a lower swing low forming. We broke out of that critical Blue line ;)
IvanLabrie
I hope you're still in from the top.
moorekapital
I got out on the blue line. Why? it was a potential support = Anything was possible
moorekapital
I would re-asses and go in again. This market currently offers loads of sweet opportunities, and i don wanna miss any single move thereof.
IvanLabrie
I like 75% tp in these situations.
Was the short invalid?
moorekapital
No. Was just scared of possible bounce, like it happened in the leg down prior. And technically, i was seeing a Trading Range(TR) situation = 1 more leg up possibly.
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