Strong round number, Good possibility of a lot of sellers lying in wait. We have the supply zone still in play from the 1.06300 area/15 minute chart from friday's excitement, so taking a short entry at 1.06970 with a target at that area. Blue line at the stop is a hedge order incase we break to trend, then I'll wait for 1.07400 to make another choice, But I think a range is very likely to be the outlook, at least half of it if not the whole range to try for the 1.04 the bears keep wanting. If we use half the range or just plain dip and rise, I think we may be looking at a run for the 1.08 levels. Have to see how this traffic jam plays out, lot of areas in one place.
Trade active:
Limit Reached, trade begins
Comment:
*Demand zone (I'll get it right one day, it's the place where all the orders are stacked, you know the big level thingie lol) If the hedge gets hit, that's fine too, I will trade according to my backtesting to try and never let the drawdown become much more than the realized gains
Comment:
Not really a way to close this idea as is, Hedged out with -24 pips, extended the target of the intial position to 1.0601, stop run here tells me its very likely that demand zone below will fail
Order cancelled:
Going to mark this as "Cancelled" though when the next oppurtunity lines up, I will continue this trade in another idea.
Currently holding 2 positions, one buy and one sell. Back testing revealed about a 60-100 pip range, so if we climb to 1.74, I will be observing for a retest to liquidate the sell near breakeven or small loss, and let the buy continue. Not convinced this was a stop run anymore
Currently holding 2 positions, one buy and one sell. Back testing revealed about a 60-100 pip range, so if we climb to 1.74, I will be observing for a retest to liquidate the sell near breakeven or small loss, and let the buy continue. Not convinced this was a stop run anymore
Volatility increase, may have to brace for a stop hunt at the top too, so not trying to be too eager to move in a stop yet