Here is how to properly trade the cup & handle reversal pattern. Details are on the chart. +1 if this helped! Comment if there's something you want to learn Happy Trading!
This is my trading plan. You can look through my published ideas to look at other examples. I need 3 reasons to enter a trade. 1. A clear direction. I use 3 emas 50, 100, and 200 as shown in the chart.(Required) 2. A horizontal support/resistance area. (Required) 3. Price retrace to one of the emas to act as resistance. (preferably than fib) 4. Fib continuation...
Here we have a nearly completed Wolfe wave series. After coming out of the weekend , the Aussie was off to a strong start, but i'm sure a correction is coming around market open. In the mean time , we want the aussie to continue to gain power till Monday market opens, and from there we will be shorting the Aussie/ New Zealand pair. Our entry is based on a Wolfe...