EURGBP - FANTASTIC BUY SETUP #MyStrategy #educational
Price has just touched a weekly trend line. A lot of traders go long (or short) based on a single candle. I don't like this approach. I prefer to study swings behind candles. For this reason I trade after a breakout and close above (or below) certain trend lines.
In this case we have a weekly uptrend and a 4h counter trend line! A breakout and close above the CTL is a perfect sign to go long in a weekly perspective. For example a CTL formed by 1h swings or 30 min swings don't have any meaning for a weekly trend line.
In this case we have a weekly uptrend and a 4h counter trend line! A breakout and close above the CTL is a perfect sign to go long in a weekly perspective. For example a CTL formed by 1h swings or 30 min swings don't have any meaning for a weekly trend line.
Ordre annulé
price did not close above the new ctl formed. Trade cancelled.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.