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Trend-trade

POSSIBLE ABCD PATTERN ON USDJPY (TRADE WALK THROUGH)HELLO TRADERZ! SO, WE MAY HAVE A POSSIBLE ABCD PATTERN COMPLETION ON USDJPY ON THE HOURY CHART. WE'RE GOING TO USE THE "IF/THEN" METHOD. IF WE GET A COMPLETION OF THIS ABCD PATTERN, WE'LL BUY AT THE 1.272 EXTENSION, WHICH ALSO COMPLETES THE C TO D LEG, AND IS ALSO IN CONFLUENCE WITH PREVIOUS STRUCTURE SUPPORT. OUR TARGET WOULD BE THE 61.8 ON A FIB OF THE C TO D LEG, WHICH ALSO CORRELATES WITH PREVIOUS STRUCTURE SUPPORT WHICH SHOULD NOW BE RESISTANCE.
Long
by jamanglona
1
Delta Air Lines-DAL -Daily -Trend Trading with RgMov & CCITREND TRADING WITH RGMOV AND CCI 1. BUYS = Watch for RgMov to make a 2-month high, then buy CCI readings of -100 followed by trading above, then closing above a previous day's high. Exit at 3 ATR rally or when CCI reaches +100 adding each 1 ATR advance. Stop = 3 ATR's OR if RgMov makes a 2-month low on a closing basis (2 months = 44 days) 2. SELLS = Watch for RgMov to make a 2-month low, then sell CCI readings of +100 followed by trading below, then closing below a previous day's low. Exit at 3 ATR decline OR when CCI reaches -100, adding each 1 ATR decline. Stop = 3 ATR's OR if RgMov makes a 2-month high on a closing basis (2 months = 44 days) There are plenty of other exit strategies - including using a trailing stop once the CCI has reached the opposite extreme. A simple trailing stop can be over/under the 3-day range. Tim 1:12PM EST, March 6, 2015
NYSE:DALShort
by timwest
3