My initial bias at the start of the trading week on this pair was bullish, I entered a long position on Monday to buy as I saw a triple bottom had formed and I was expecting price to push up - and we got this on Monday where I caught a 150+ pip move before closing out.
The next day I saw what looked like a huge reversal bar forming and realised that the formation of this would leave a classic head and shoulders pattern with a huge amount of pent-up selling pressure to boot. I got a nice tight stop loss in as I still feared my early-week bias was active, and had an extended take profit at the 200EMA, well below the neckline as, if the head and shoulder pattern was honoured there would be a violent impulse to the downside here to around 1.745. Overall, this pattern was indeed honoured and we saw a huge 400+ pip reversal form with price now stalling right at the 200EMA as I predicted - I know you aren't supposed to trade with emotions but this is my favourite pair!!
I haven't traded much this week - it has been a mad week!! - but I will now upload some of the moves I've caught, why I took them, why I won and why I lost/broke even!!
The next day I saw what looked like a huge reversal bar forming and realised that the formation of this would leave a classic head and shoulders pattern with a huge amount of pent-up selling pressure to boot. I got a nice tight stop loss in as I still feared my early-week bias was active, and had an extended take profit at the 200EMA, well below the neckline as, if the head and shoulder pattern was honoured there would be a violent impulse to the downside here to around 1.745. Overall, this pattern was indeed honoured and we saw a huge 400+ pip reversal form with price now stalling right at the 200EMA as I predicted - I know you aren't supposed to trade with emotions but this is my favourite pair!!
I haven't traded much this week - it has been a mad week!! - but I will now upload some of the moves I've caught, why I took them, why I won and why I lost/broke even!!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.