Pro’s
- Symmetrical triangle break and re test of a key level at 1.245
- Rejecting back side of a long term downward sloping trend line
- Weekly and daily deceleration
- Low test rejecting key level
- Double bottom
- 4HR Bullish MACD
- Dynamic support of the daily 50 EMA
- Trading with the trend
- Stop safely behind the key level and the 50 and 60 EMA and previous swing low’s
Con’s
- No clear daily reversal candle shape
Trade Plan / Management
- Using a hybrid strategy with two 0.5% positions
- Targeting 2.920 with position 1
- Once target 1 is hit position 2 gets moved to break even
- Trailing position 2 with smart stop placement utilizing swing lows, s/r levels, trend lines, dynamic support of EMA's. Trading with the longer term trend
- Symmetrical triangle break and re test of a key level at 1.245
- Rejecting back side of a long term downward sloping trend line
- Weekly and daily deceleration
- Low test rejecting key level
- Double bottom
- 4HR Bullish MACD
- Dynamic support of the daily 50 EMA
- Trading with the trend
- Stop safely behind the key level and the 50 and 60 EMA and previous swing low’s
Con’s
- No clear daily reversal candle shape
Trade Plan / Management
- Using a hybrid strategy with two 0.5% positions
- Targeting 2.920 with position 1
- Once target 1 is hit position 2 gets moved to break even
- Trailing position 2 with smart stop placement utilizing swing lows, s/r levels, trend lines, dynamic support of EMA's. Trading with the longer term trend