Hello Traders! Enjoy next big idea. I'm Currently neutral. Waiting for breaching any of borders to choice the animals. The perfect classical way is when the price breaking and then retesting and holding above or below the breached line from the opposite side (that's my beloved one). Please bear in mind that as higher is the TF as long time it takes. But we are not rushing anywhere. I usually look for at least 2 closed bars for the confirmation of the breakout. Below red i am a bear. Above blue i am a bull. Good luck to everyone!
@RoboCash, I will decide when the price will approach to TP1. Depends from the price action. If reacting very fast pullback then closing manually. If price will stop at TP1 without strong ricochet i will move SL to BE. If breaking in holding below we may see that TP2 i don't see any problems. Same for TP2. But first we need to pass down successful the 1240 area.
Forex_Society
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agree
Ligho
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Thank you very much. I have been very interested in your ideas and look forwarded for them. when you say that you wait for 2 closed bars, in what time frame you refer (what is the duration you wait for confirmation?).
Good Luck. Appreciate your ideas.
dapperx3
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@Ligho, Hello. Happy that you enjoy. 2 closed bars (cuz one usually may lead to a fake breakout) - means if the model is on H4 tf then it`s 8 hours :),obviously on 1H its 2 hours. Thank you for appreciations ;)
Ligho
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@dapperx3, Thanks. You are the best. Good Luck and happy trading.