Ffarquhar

Ffarquhar

USD / DKK is overall bearish trading within the green channel. On the 4 hour we have 3 touches on the yellow trendline and we are approaching the daily upper trendline. Let's see if we get a fourth touch on the trendline otherwise wait for a momentum candle under the red line.

Ffarquhar

On the daily we have a large correction and on LTF a smaller correction that we are trying to break out of close to the upper trendline of the HTF correction I have placed a stop limit order at 18, stop loss 15.50 which is below the LTF correction, with an initial target of 27 which is around the range of the HTF correction. Good luck! COINBASE:BANDUSD

Ffarquhar

I got stopped out. Didn't consider spread in my stop loss and didn't realize that you see the bidding price in TV not the asking price. Next time wait for entry until correction is further along then set limit order!

Ffarquhar

Disclaimer: I am new to forex, but I am trying out an idea here thinking that since the pair is bullish on HTF and we just had a reversal outside of the trendline. If this takes off I will consider moving my stop loss Please comment, Thank you for reading