Dislikedi entered at 86.87. long. as marked by the cross of the two blue lines on this chart.
this was an ideal trade to take. the previous candle was bullish and closed above the sell candle. therefore signal to go long.
price was also above 50 sma, near strong support (marked by the red line on the chart) and the 4hr trend had been making higher highs for a while. so a strong case to go long.
price was almost near 50 sma, so an ideal place for it to resume the upwards trend also.
all these factors made it a high probalbiity trade to take , go...Ignored
- Joined Jun 2009 | Status: Trend Trader | 5,607 Posts
Find a trend and milk it for all it is worth. That's how to be profitable
- | Joined Oct 2009 | Status: Member | 36 Posts
Direction is more important than speed. Alot of people go nowhere real fast