As the lights go by so too do the shadows move
- Joined Feb 2012 | Status: Member | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
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DislikedHere is a longer term trade that I am setting up for, it is a Bullish Rectangle that willmost likely to exit upward. Personally I will set it up to enter the trade with either a buy or a sell depending on the direction it breaks out. I think that it meets the parameters of this thread being a high probability low risk trade. See the additional comments on the chart {image} Note: the AUDJPY pair when stuck in a range for more than a month has exited strongly and moved the full distance of the range and more. Based on recent 2 year history a move...Ignored
DislikedWill be looking to see how this plays out during next few days for a possible bo scenario. {image}Ignored
Disliked{quote} I went and got in although we are around 11/10 weekly close and 11/17 weekly open also to boot we are approaching the pairs 9 day average,if it can pierce the 3rd layer the 9 day average then it's only 23 pips until the 20 day average is hit and I won't be surprised for a little drop here and then the rally up.....Ignored
DislikedWill be looking to see how this plays out during next few days for a possible bo scenario. {image}Ignored
Disliked{quote} May have got in too early. might be pullback/reversal from here.Ignored
Disliked{quote} May have got in too early. might be pullback/reversal from here.Ignored
Disliked{quote} if it can pierce the 3rd layer the 9 day moving average then it's only 23 pips until the 20 day average is hit and I won't be surprised for a little drop here and then the rally up.....Ignored
Disliked{quote} {quote} It should drop and or consolidate before the rally to the 20 day average let's see it does look to be inside a S/D zone so maybe it will resume a drop past my 35 pip stop and if it does I put a pending sell stop 2 pips right after the 35 pip stop loss but I expect it to move up towards the 20 day average at least so I hold my buy long on it... {image}Ignored
Disliked{quote} yeps my levels agree. EU is going bullish anyway, I think this is just a pullback should retest soon.Ignored
Disliked{quote} In the correlation GU may come back up the weekly TL but EG is only 4hr so hopefully GU will hold longer if it breaks though this trade may fail.Ignored
Disliked{quote} This is what I'm looking at. If GU breaks the lower 4hr TL and EU doesn't mirror there will be strong EG bear. If GU comes up and breaks top weekly and again if EU doesn't mirror there will be EG sharp drop. GU resistance currently holding. {image}Ignored