Ideal scenario: Bearish Shark Completes in Overbought territory with div. in lower/higher time frame. Goes on to Complete Bullish 5-0 (which may line up with 4H KS) Bullish 5-0 Goes on to Bat/Butterfly PRZ But how likely is that?!
Dagangan aktif
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Entered at the close of the 30 minute candle @ 0.0533 (contract price)
Risking 10 pips at the moment
Komen
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Original risk was 10 pips and since then up as much as 15, so I will move stops to cover costs
Unfortunately this puts my stop at the original completion point for the shark, so it if does get hit I will definitely be interested in re-entering, especially if it doesn't make a new high and shows a small bearish candle
Dagangan aktif
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Stopped out at .05329 as shown. Just re-entered at original price .0533 with same stop loss as first try.
My future contract charts are 10 minute delayed so it doesn't show the re-test of this area yet, but the price is currently at this level :)
Komen
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Up 9 pips at this moment...close enough to the original ten so moving stops back to breakeven (.0533)
Komen
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Well, once again I was stopped at breakeven...missed the re-entry and the pattern played out quite well. That's the cost of the new strategy I guess...need to pay closer attention.
I am still interested in shorting the Peso...right now I have found a small shark which completes under this little trendline and below the PRZ or the larger bat/butterfly in the main idea. I am going to give it a shot with my stop above X.
If this fails, I will look to short again in the butterfly/bat PRZ of the main idea.
Komen
BullBalls88
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I dont understand what you see, all I see is more demand ( Volume ) at higher price levels. That is, if you want to rely on technical analysis alone in foreign exchange which is foolish.