Another trade i'm looking to potentially long is the EURGBP 0.49%which has just broke out to the upside. A simple pullback (3-7 1 hour candles of consolidation) or deeper pullback to the Daily Bullish Structure will be ideal to execute this strategy.
Sometimes, it seems impossible to reach Target 2, but if you have been trading patterns you should have your preference to take certain amount of position at each target. As a side note, GBP/JPY hits its 38.2%(T1), USD/CAD its 38.2%(T1) and 61.8%(T2) and a lot more. I hope to put out more ideals but time is limited... Sorry id try to bring up more in time to come.
Same for A6. So currently, on my watch list to long is A6, E6, GC and short ES(Active)
Again commentary later if you guys don't mind. Now have to focus on watch for higher high, higher low.
Trading is similar to investigative work. I gather evidence to substantiate a claim and this is how I do it. Euro, having break new high's continue to gather pace in bullish momentum. The reason I don't trade breakout is I could not quantify how much the move is going to be. The traditional way is to measure harmonic moves and expect the current move to match...
All i need to trade on EUR/USD will be a pullback to this bullish structure which ideally gives a good risk to reward as well as, the uptrend will remain intact Most of the time when there is a trend you rarely will see Patterns to trade and you can plan for breakout as well.
The nice thing about trading consolidation is that somehow i have reservations about trading too hard and it kinda place me in a neutral perspective that allow me to trade both long and short. I don't have to really trade patterns and simple long short style with reasonable risk to reward can be taken as well. (Usually, risk to reward is about 1.2:1 or 1.5:1, i...
My answer is yes and no. Traditionally, it is. In this era of artificially depressed interest rates, the co-relationship is not as strong as before and personally I'd prefer to view each individually. If i'm trading interest rates, i don't really bother about equities. Why bother to confuse myself? I don't trade interest rates spreads, I just want to concentrate...
ES As of now, what we know is Friday's rally fizzled out into the afternoon session and was close to retest the low. This suggest the bears are still around to battle with the bulls for the bullish structure between 2420.5 to 2404. What is conclusive is that the uptrend has been broken and attempts to rally failed at 2440, which is now a bearish level. As long...
this would be a nice move, lets see what dem dollaz think
GBPUSD there is a Butterfly pattern to complete so get long
This pair is in a such strong downtrend. Here's an idea on how to get involved, looking for continuation south. Still too early to take any actions. Just wait and see if price action will play out this ideal setup.
Buy oppurtunity at perfect bullish Cypher completion then trade management looking for this ideal scenario to happen.