Looking at a breakout of this flag pattern. I see a strong support level at 1.674 area so we may see that get restested first, this is my zone where I will be watching for bullish price action. First target would be 1.70 area for the double top, second will be 1.71. Stops will need to be around 1.665, however I enter at market when I get a price action signal at...
2014-06-06 when price turns before reaching its next logical line (In this case , the down sloping Median Line) it's an indication of a larger counter move. A buy may be entered when price crosses the TL it was responding to on current drop. My prop. calc. puts TG @ 1.7056. If price fails at the TL, I'll consider this thrust as a price mark-up to catch out new...
Stop Loss: 1.6540 Entry 1.6615 TP1: 1.6733 TP2: 1.6804
A close above 1.6869 could re-assert effort to advance to retest high.
Price turns north of newest median line, making prior high a target.
Hi everyone! If you have yet to see the introduction video which ChuanSiang and I made, please go to our "About" page and view it! The video covers on what this website is all about, how we trade, and etc. I'm not sure if any one of you have been whipsawed last week, but Friday was definitely one heck of a trading day. That was a result of the release of...
i'm shorting cable in the next week. cable is in its highs since 2009. we have also BoE and ECB Interest Rate Decision on Thursday. my tp are tp1 1.674, tp2 1.658