Will be taking a long position on GBP/USD based on the following reasons:
- Bullish hammer candle on Weekly TF.
- Rejection of 0.786 fib
- Respected ascending trendline
You might be thinking that I am super crazy by taking this trade, especially with the referendum only a couple of days away, however I feel as ...
PRICE ACTION TRADING.
Draw the box, use a support and resistance bars.
Find a PA ( Price Action ) reversal pattern.
PRACTICE,PRACTICE,PRACTICE AND PRACTICE
SEE YOU AT NEXT VOLUME !!
i'm not going to bore you with a long winded description on what i think is going on and give you the complexities
why? because my style of trading is made to make the most complex market seem simple by trading only support and resistance using price action for entry and that is my system
For those struggling to ...
even thought there is a lot of event risk this week I can see a possible right shoulder printing for EurUsd on the 4h chart.
Risk Reward is excellent if you are able to catch a short on the right shoulder as I do.
TP1 - Neckline 1.250
TP2 - 1.110
Look In the chart, we BOTTOM 1 time every 2 years EUR / USD looks of his .2010 (1.180) -2012 (1.20) and the 2014 !!! (1.22 >>?) Parity 1.25050 to 1.27000 and 1.22000 years after the end 1.280000 (2015)
MY Link: http://tr.investing.com/members/36623/opinion
Website : ...