Potential Trend Continuation Pattern
Mis à jour
Note: Hey guys, and welcome back for some more chart analysis practice. As you know, I am not taking this trade in real life, and I have not back-tested this particular strategy on the EURNZD , so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Alright, so first and foremost, I wanted to apologize to you guys. As you can see, I actually found this potential opportunity a while ago and simply forgot to post it, but, better late then never right. Anyways, so I got involved with this opportunity (hypothetically of course) on the third retest of the 0.618 Fib level @ 1.69148. I put my stop loss 10 pips above the most recent lower high @ 1.69973 and my target @ 1.67983. Now to be honest with you guys, I personally feel as though the market is going to stop me out at this point, but we will just have to wait and see. I will of course do an update on this trade (as I do with all of my posts) when my stop loss or my target get hit.
Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day.
Know the risks, plan accordingly, and have a great day.
Follow me on YouTube @ Matthew Spositi
Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only.
Alright, so first and foremost, I wanted to apologize to you guys. As you can see, I actually found this potential opportunity a while ago and simply forgot to post it, but, better late then never right. Anyways, so I got involved with this opportunity (hypothetically of course) on the third retest of the 0.618 Fib level @ 1.69148. I put my stop loss 10 pips above the most recent lower high @ 1.69973 and my target @ 1.67983. Now to be honest with you guys, I personally feel as though the market is going to stop me out at this point, but we will just have to wait and see. I will of course do an update on this trade (as I do with all of my posts) when my stop loss or my target get hit.
Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day.
Know the risks, plan accordingly, and have a great day.
Follow me on YouTube @ Matthew Spositi
Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only.
Ordre annulé
Hey guys, just wanted to come back and give you guys an update on what happened with this chart analysis session. So as I suspected, the market touched my entry and then continued to rally, there by hitting my stop loss and stopping me out. Unfortunately this one just didn't work out like I suspected it wouldn't, but hey, that's trading guys, anything can happen. I hope you guys enjoyed this one, and I will see ya'll in the next one.
Clause de non-responsabilité
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