looks like price has reversed and this double pattern is a go !
Quote:
Originally Posted by
[url=http://www.iforce.co.nz/
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looks like price has reversed and this double pattern is a go !
Quote:
Originally Posted by
[url=http://www.iforce.co.nz/
maybe sell it now DA. its struggled at 98.30 and the spike to 98.42 was a tiny little butterfly which has confirmed now. price now 98.20 stop 98.55
I just wonder if it can still head higher to test the underside of that old UT line.....that would print a BF (and perhaps a 200+ pip fall)
.
http://www.freeimagehosting.net/uploads/5e168c91d4.gif
I'm thinking it might go to 99 from here... looking for a signal
and yes arco sometimes I think my posts are also a pretty good contrarian signal http://www.biggie.co.nz/interaction/...mbarrassed.gif
Hi Peat
Could be a move to 99.80-100-80 area based on a bullish BF from daily 'x' 22/5, and Ichimoku signals look good on the daily
http://www.freeimagehosting.net/uploads/2a868b0b5b.gif
yes that butterfly i drew started on 22nd May.
I built a position last night once it came back over the 95.60 level
the problem with butterfly trades is that according to the theory the stops are very far away in this case below 92 and thats too much. difficult to know how much to risk.
HI Peat
Just below 95.75 spike low after the FOMC announcement might provide a low risk SL. Support by Kumo on 15m,30m,1hr.
http://www.freeimagehosting.net/uploads/d9ec553f84.gif
Possible turnaround zone below in grey - no signal as yet from Ichi
http://i30.tinypic.com/fnvmrp.gif
arco, what is your typical trade horizon? been following your posts for a while, you've got some serious technical firepower there...
I'd really like to be a long term trader and sit with a trailing stop until it gets hit months down the track. But even after all these years of trading I still find it hard to hang on through the ups and downs. I tend to jump on and off as the move progresses. which suits my nature better. Others I know are happy sit on their hands and collect a nail biting 1000+ pips at the end of the run. Each to their own I guess.
arco