Measure twice, cut once
Trading trendlines and chart patterns only 8 replies
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Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies
DislikedHi Aediaz1,
I remembered you mentioning before entering on candle close below double top neckline, 1% break. Is that all your entry criteria? Candlestick?
Also, I understand how you target your profits, what about SL?
Thanks! And nice chart. =)Ignored
DislikedHi there. Regarding the 1% break, this is for daily charts and I've found out that 0.5% work on 4h chart. On lower TF, it would not make any sense with % so I simply use a close bar on TF's like 5m 15m etc.
You can place SL above the second peak in this example, market with a red dotted line.Ignored
DislikedSimilar pictures on EJ and GJ. What seemed to be a broadening triangle has just become H&S formations.
Also, A diamond on EU H4 will reverse trend. Euro is going up.Ignored
DislikedHere is an example of pattern inside another pattern. Potential DT (its not confirmed as DT before price have closed below 1.1360 area) on 4h chart usd/cad. Switching to lower TF we see a H&S top. Increased probability in other words if the H&S comes into play along with the DT.
Remember that none of this 2 patterns have been confirmed yet so price might as well head up. This is nothing more than a potential scenario.Ignored
DislikedHi aediaz and others
I've visited a few times in this thread but haven't posted anything yet... Looks good, thanks for hosting yet an other quality thread.
Just took a quick look at the chart and this is what I got. The top seems to be in place and direction is down. Difficult to say how far down she travels, but shorting feels a good option.
BR,
RIgnored
DislikedHi Rocroy, good to see you're still around !
That scenario didn't play out although it seemed very possible at the given time. Bulls seem to have control for now.
I don't know about you guys but I don't spot any trades right now.Ignored
DislikedDon't give up so easily mate
A correction is underway, price should turn down before that previuos LH (1.2000). If it does, go short, first target at prev LL (1.1300).
Good luck.
RIgnored