Reply SD “Going extended straight away†isn't an entry strategy for me, not depending on anything at all market connected….and far more hazardous just after a considerable momentum go in cost.
Consider an up trending market place (momentum for the upside) and selling price has produced a considerable operate in value. Huge moves generally reverse back again towards an “typical selling priceâ€. The true secret is to find a way to ascertain if a current market has “stretched†far too considerably.
I've normally mentioned that easy works and In cases like this, it absolutely was a bull flag. One more thing to note within the 4 hour, since we were being wanting to trade extensive, the momentum candlestick was interpreted as a ultimate flush of shorts….and afterwards we trip!
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Glad it went perfectly. You need to have a trading strategy before you enter a trade. Whilst it is smart wanting to Perform A different push down following that large go (which happened and you set your prevent in an excellent area) being greedy is never a great trade.
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Heading from long to quick? That once more might have been a four hour chart Participate in. Does your trading system demand this sort of jumps amongst bias?
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Chart Commentary Disclaimer: Nial’s sights about the Charts will not be tips or maybe a suggestion to trade or commit, it truly is instructional and common information only. Dot blindly obtain and provide the markets/products and solutions mentioned in this newsletter, do your own private investigate and concentrate on the pitfalls and benefits.
Reply Shingi SD, regrettably I used to be very long over the NZDUSD According to the setups suggestion. The breakout transpired within the H4 and there was abide by by way of until finally cost just started off going south.
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USDCAD – I wrote over the setup chart that the momentum within the pullback places Yet another short in danger. Four hour chart confirmed a great complex pullback to secure a lengthy off with 109 pips to highs