JohnDev's Journey Posted: Tue Nov 15, 2011 8:09 am
Having just completed my first month around these parts, thought it time to post an example of a current trade, taken using some of the techniques learnt here so far ...
I've been a fan of 4-hour charts for quite a long time, so this is what I'm using here on EURUSD.
At 1 on the chart we had this week's opening gap up which sold off quickly and was confirmed as a swing high by the candle at 2.
At this time R had been rejected multiple times (as had previous R) and with the orientation of the other MAs, I was initially looking to a swing trade and entered short during the candle at 3.
As price continued down, price dropped below the 20, fulfilling conditions for a negative Strat Shadow. With the candle highs clearing the 20, I switched to a trend trading hat and sold the low of the blue candle at 4
Comments welcome ...
Having just completed my first month around these parts, thought it time to post an example of a current trade, taken using some of the techniques learnt here so far ...
I've been a fan of 4-hour charts for quite a long time, so this is what I'm using here on EURUSD.
At 1 on the chart we had this week's opening gap up which sold off quickly and was confirmed as a swing high by the candle at 2.
At this time R had been rejected multiple times (as had previous R) and with the orientation of the other MAs, I was initially looking to a swing trade and entered short during the candle at 3.
As price continued down, price dropped below the 20, fulfilling conditions for a negative Strat Shadow. With the candle highs clearing the 20, I switched to a trend trading hat and sold the low of the blue candle at 4
Comments welcome ...
15 YEARS OF PASR ON FOREX FACTORY!