Too much resistance on the GU trade.
Decided to close and look for a better trade.
+17.3 pips
Cheers,
Miike
Decided to close and look for a better trade.
+17.3 pips
Cheers,
Miike
10sma on Weekly Chart System 38 replies
Trading with a 10SMA 4 replies
What is the difference between an "interday" chart and "intraday" chart? 2 replies
DislikedToo much resistance on the GU trade.
Decided to close and look for a better trade.
+17.3 pips
Cheers,
MiikeIgnored
DislikedHI Miike,
Hopefully, not my disturbance to make you close it.
Since this thread is on daily candle, besides i learned many times "plan the trade, trade the plan"
A close during the middle day would be a bit hurry from my point of view, IMHO.
This would make me to ask again, BKG, will you please mind to summarize an exit guideline? This would be a great help to the common level trader like me.
Thanks in advance!
B.R.
RaymondIgnored
DislikedI know this is a bit earlier, not close yet.
But can we assume it would be closed below 10sma?
66.65 is a big support in weekly, if you enter now, you have to take the risk for short at support
However, looks like deserve a try, 1st target: 65 2nd target 63.5Ignored
DislikedI know this is a bit earlier, not close yet.
But can we assume it would be closed below 10sma?
66.65 is a big support in weekly, if you enter now, you have to take the risk for short at support
However, looks like deserve a try, 1st target: 65 2nd target 63.5Ignored
DislikedDO NOT enter this trade until the candle closes. There is no reason to go short here. Chances are price will back up closer to the 10sma. PATIENCE!!Ignored
DislikedMike where did you see the too much resistance that you were talking about
which made you close the tradeIgnored
DislikedThis is traffic, resistance, consolidation, all the above. It may go below this area but it will struggle to do so probably. We must be able to recognize this on a chart.Ignored
DislikedOn your chart you have a major event area marked in blue 1.56801 which is about 150 pips away when you came out.
What I am trying to get at is why did you come out when you did.
I was in this trade also and came out not long after you.
bkg sorry I thought I was responding to mike but you can carry on explaining if you dont mind.
So if a 10sma cross is in a consilidation channel are we better to leave it well alone.Ignored
DislikedShort entry on the above pair appears far too early. Support not cleared and a sideways 200 SMA.
Good luck, anyway!Ignored