Coming in from a down-trend,I noticed this channel develop. Once I saw price break 15min support (horizontal dotted line) and hold for 2 candles,I pulled the trigger :) stop loss,entry and take profit are marked.
Trade active:
Stop loss set to entry price to avoid all risk
Comment:
I'm worried that the price 0.88535 will hold the market and this channel might then be invalid and this whole thing is in a range. Ya feel me??
Comment:
You know what?? out of fear,I'm going to remove half my position and call it a day. That way I can go to bed with some profit and no risk left on this trade but I'm gonna leave the rest to hope. Will see tomorrow if the market hits my target. Seeing the market move so quickly,its possible my take profit will be reached. Goodnight :)
Trade closed: stop reached:
Okay I got stopped out at around 3 in the morning but still made some money on this trade $$$. It looks like the market is going towards where my take profit was set,so this pair could actually be channeling. I might enter again on this pair,will keep an eye on how price moves and will try publish the next idea before I take the trade.