Set a buy stop last friday above the resistance of the highs of the bars shown in the chart and a few pips above the 61 fib in case price bounced off.
May add another buy stop above the resistance of the next level of bar highs tomorrow if it keeps going.
Entry at .7614
Initial s/l .7531 which was a few pips below the low of friday
+44 pips locked in with a 50 pip trailings s/l of .7658
While I'm writing this, price seems to be moving toward my s/l, but having let the trade develop this long I'm willing to let it hit my stop if that's what the market wants, but I know this winning trade won't become a loser.
The great thing about this trade for me is that it took a few days of patience to let it develop, but it was a low maintenance trade. Set it friday, checked it once or twice a day, moved stop to b/e, and set the trailing stop. No stress involved.
Learning price action, and utilizing longer time frames seems like the most comfortable (I won't say system), I'll say trading methodology I have found so far.
Jimmy
May add another buy stop above the resistance of the next level of bar highs tomorrow if it keeps going.
Entry at .7614
Initial s/l .7531 which was a few pips below the low of friday
+44 pips locked in with a 50 pip trailings s/l of .7658
While I'm writing this, price seems to be moving toward my s/l, but having let the trade develop this long I'm willing to let it hit my stop if that's what the market wants, but I know this winning trade won't become a loser.
The great thing about this trade for me is that it took a few days of patience to let it develop, but it was a low maintenance trade. Set it friday, checked it once or twice a day, moved stop to b/e, and set the trailing stop. No stress involved.
Learning price action, and utilizing longer time frames seems like the most comfortable (I won't say system), I'll say trading methodology I have found so far.
Jimmy
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