I'm currently looking at shorting EUR/CHF on this pin. This is what I see:
Pros:
Nice long pin extending through down trendline
62 fib retrace from high 14 bars prior (not shown)
Potential for breakout from months of consolidation
Cons:
Not at swing high
In traffic
First trouble area 25 pips away
Is this considered a risky trade? It seems the past few pins in consolidation have given predictable pips. Problem with this one is it seems to have run out of space. How would you handle this type of pin?
Thanks for your feedback everyone... just in my first few weeks of demoing.
-- Danny
Pros:
Nice long pin extending through down trendline
62 fib retrace from high 14 bars prior (not shown)
Potential for breakout from months of consolidation
Cons:
Not at swing high
In traffic
First trouble area 25 pips away
Is this considered a risky trade? It seems the past few pins in consolidation have given predictable pips. Problem with this one is it seems to have run out of space. How would you handle this type of pin?
Thanks for your feedback everyone... just in my first few weeks of demoing.
-- Danny
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