DislikedAnyone looking at EURAUD BUOB PB at the base of consolidation box? Any comments are welcome
Mike, how wld u rate this setup? I thought the location was pretty gd and the size of the bar ok though if it is bigger will be better. WLd u have placed the TP to be mid of the box or top of the box?Ignored
Someone actually emailed me about this here was my response with a relevant chart
Hey Nick
I actually think your charts are exactly how I would draw them. The key for me is the bar closing above the channel. This for me has to kind of be ABOVE the local round number of 1.2300 to be good. That would be a very strong sign that price will get to the top of the box. So you are actually really doing well here and keeping it simple. Now this buob probably won't close that high, which doesn't make it wrong but it does mean we have to watch the 1.2300 level closer as that becomes our FTA. We could also use the 1.23 for trade mgmt but also the low around 1.2230 from the way this one is closing. So the overall setup is really close and for me if it did close above 1.2300 I would almost definitely take it but because of that I would rather wait for something better. Those are the little things that I am particular about but I don't want to deter you from trading it cause your charts are very good
Best
Mike