Priceactionsignals
Would you go long, short or no trade on this chart? (Nov. 26, 2018)
This is a good opportunity to practice your price action skills. Before moving the chart forward, answer the following questions:
1. Would you go long, short, or no trade...right now on the chart above?
2. Reasons for trading or not trading?
3. If you would trade, call out your stop loss and take profit.
Then scroll the chart forward to see how you would have done! Leave your results below...
Strong Possible BuyLooking for Strong Possible Buy
Several confirmations pointing in that direction But there ultimately waiting on price action whether it happens on the support or ceiling.
Waiting for the break of support or Resistance on 1 hr
The retest of Support/Resistance on the 1-hour candle or Higher Time frame
2 consecutive 15 min candles in initial breaks direction
Projected Entry for Buy
EP 1519.20
SL 1516.19
TP1 1535.60
TP2 1555.40
Projected Entry for Sell
EP 1504.86
SL 1507.01
TP1 1499.69
TP2 1492.70
I have confirmations for both directions. So this is a Neutral call I will be moving in either direction after price action.
How to read my chart
TP's are marked in Green
Zone is marked Orange
hover over note pins for price action Entries
GBPJPY Trade Idea# Downward trend line indicating lower highs
# Sell signal printed around the trend line (resistance)
I have sold at market price @ 145.720 with
# SL just above the sell signal (inverted hammer)
# TP lower down around support @ 144.00
As usual don't bet the farm, good risk management won't kill you but the lack thereof could :)
Follow me in Forex Bootcamp using the Telegram link below for real time updates