GFA is forming a possible fallen angel formation. It had a huge decline & now seems getting some upward momentum. We think it has good upside potential if it can break above $7.07 * Trade Criteria * Date First Found- June 13, 2017 Pattern/Why- Fallen angel pattern Entry Target Criteria- Break of $7.07 Exit Target Criteria- $9.63 Stop Loss Criteria- $6.33 &...
I've learnt a lot from @AkilStokes on his Trading Workshop and tried to apply his rules on this potential short on dollar/yen
stops need to be below previous structure and profit targets we could at least retest previous highs which is around 120.5x
Range bars and potential buy / sell opportunities coming up soon. but personally i would wait for a retracement up back into 1.064x region for a sell. or if it dives lower i would purchase at 1.052x region stops goes above the channel lines +20 / 30 pips (to prevent stop hunters or long wicks) We'll see how it plays over next week Kanchelski