Price breached below the sliding parallel of the median line se, and is now pulling bck into a correction heading to a key resistance zone to watch for sell setups. In this video we analyse how the uptrend is weaking and all the confluence we get in the sell zone after the breakout below key support.
Feel free to comment and share your thoughts. In addition let me know if you enjoy in general video analysis instead of post ideas.
Have a nice weekend, John
评论
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Price broke below the corrective structure signaling a sell. Entry level, sl and tp as shown in the chart below:
Would you think at 111.20 is also a good entry level ? as I missed your comment earlier ? If so where should i put my stop loss ? I feel provided your research i see even at 111.20 there is good upside with a short.
Fxprotrader
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@Chandi49, It's not a nice idea to tell you how exactly to trade your setups..! The reason is that I don't know your money management. risk/reward you go for, breakeven strategies etc. But if you really need some levels in place stay with the one in the chart and wait to see if you get a pullback.
Chandi49
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@Fxprotrader, would you be able to give me some indication as to what you are looking for in Risk/reward and breakeven strategies please ?
I did close my position taking a tiny hit to see if there is a pull back like you recommended.
Fxprotrader
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@Chandi49, I believe it's impossible to explain you in just a couple of lines into a comment. Risk/reward is by far the most important thing in your trading success. If you trade 1:1 setups only to see winning trades in your account, you will be chasing your tail for a long time. Can you win 3 out of 10 trades that offer you 5:1 risk reward ratio? You will make a ton of money in the long run. But keep in mind that is the structure of a market that let us be in such huge trades. You can't just blindly trade setups with 4, 5, 6... :1 R/R. I look for structure based on median line analysis for breakeven level too.
R_O_T
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Nice one...Keep the GOD work :)
winerstep
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Good Job "colleague"
FuckyouTvview
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Awesome, can see your idea and with a good insight into how you think hearing you speak. :)