Trendline Bounce : Swing Trade
Area of value marked with diagonal trend line. Previous few times price has respected this trendline's decreasing price level, so, I entered based on it.
This pair is being selected after zooming out to the max, and then observing if the price has broken out or not, and if the price is trending or not. And if yes, what angle is the price trending on? In this case, the angle of trend has been marked out with the diagonal trendline.
This pair is being selected after zooming out to the max, and then observing if the price has broken out or not, and if the price is trending or not. And if yes, what angle is the price trending on? In this case, the angle of trend has been marked out with the diagonal trendline.
Note
By the way, SL has been shifted to -0.7R +- for risk management purposes.
And, TP set at 1R BE +- and 1.48R +-.
Note
Welp. Entered during US news release. I think I am cooked. I am stewing in this seat for the previous 10 hours. I hope I escape soon.Note
I am watching this huge bullish pump upwards followed by 2 inside bars, on the 1Minute time frame. The spread isn't spreading, its kept at about 0.1pip max during news release. I think, if I wanna join in the momentum, maybe during news release 1 minute time frame is a good timeframe. maybe, and pairs that has extremely low spread. Not sure how EURUSD would perform though during NFP and other major news.Note
Alright, update again, the SL of -0.71R held up. SL not triggered, and price is coming back downwards. I am going to take a shower any minute.
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