you got that right.
i hate this. the borkers know all those stops are sitting just over the figures on like 3 pairs at once... then you start getting all these evil spikey wicks on the 3m or whatever you have...
FUBAR...
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DislikedAttached 5 Min. chart shows nice breakout pattern. Both Bollinger bands pinched.....price breaking out to downside, but best to let it get down past previous significant low before entering short....and nice high relative volume spike just preceding the breakout.
The big players may not be anxious to let this precipitously drop, not yet. The Asian session traders may still be trying to take advantage of their highs to offload long positions and take on short positions....just an opinion.
But, if this chart pattern is the tolling of the bell, then we could see a nice drop. As always, we just have to see how it plays out and respond correctly.Ignored
Dislikedif this hour is closed around 1,3677 we have a doji on 1h tf. we are going down then.Ignored
DislikedThe aforementioned chart pattern looked to be disintegrating, and then suddenly we get another candle reaching lower. But then we get a strong candle back up....and then two candles back down to make the same low. Well, this IS only a 5 minute chart and the the Asian traders are likely to drag this out. But when they are ready they can initiate a strong push down to build in their profits.Ignored
DislikedI don't believe it's premature at all.
But I'm curious to get your reasoning for getting back inIgnored
DislikedThe breakout down is progressing, having just hit a previous high area of 1.3654, which needs to be broken down thru....here we are getting another little pullback delay......Ignored
Dislikedwell i had a trigger order at 1.3650 but i got impatient so i said what the hey ill enter now..reason is that psychological level should act as a support now (give or take a few pips for stop hunting) and it is also 38.2%(1.355) fib on last move from low to high...usually acts as continuation support/resistance in a trend up or down...chances are we reach 61.8% first but i highly doubt it..if we do though...ill reenter again thenIgnored
DislikedSeem to be the chart might test ard 1.36. If the support hold, short term bull is possible.
Btw, where is your S/L for above trade?Ignored