Getting in at the .50 fib retracement. Bulls seem to be defending this support so I will be joining the party.
-Potential Head and Shoulders
-Clear defined Pinbar rejected from support
-7 week bull run
-Potential triple bottom on the monthly time frame
-Bottom of the range
1:17 RR... 1:5 RR MINIMUM (targeting lower high)
-Potential Head and Shoulders
-Clear defined Pinbar rejected from support
-7 week bull run
-Potential triple bottom on the monthly time frame
-Bottom of the range
1:17 RR... 1:5 RR MINIMUM (targeting lower high)
Trade fermée: ordre d’arrêt atteint
Commentaire:
Tight stops suck.
Commentaire:
In hindsight, a clean chart and clean price action should look readable. You take what the market gives but this is definitely real structure. I could have entered several times and or compounded into the trade probably making more than the hypothetical 1:17 more like 2:34. Takes discipline and a trending market. Definitely noted studying the markets and having 6 years charting experience. All while not peeking an eye at the news or fundamentals. The only thing that matters at least to me is a black swan event (unpredictable *USDCHF*) and or interest rate change on the currency; nothing else. The market takes steps up, and the elevator down.