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As Eric has done with E/U I thought I would post a thread based on my favourite pair. Although I am swing trading several pairs this is always the first one I think of due to the way it moves. I will post as live as possible my swing trades on it here. All are done off limit orders and not at market.
Heres my trade of the week on this pair. I got long at the horizontal level marked with the arrow on the left hand chart and took porfits at the 2 levels with the tick symbols. The righ hand chart shows the bigger daily picture. I know it doesnt mean much as its after the event but these are the kind of moves I am trying to get!
If you look at the left hand chart above you can see the level is the same as the point at which the trend line broke. This is a very strong level for a retracement to terminate at once the trend line has broken.
I just caught up with this . Interesting how you see the levels like that and I agree about price is likely to react there . Thanks for sharing rassi its helpful for me to learn how others quantify trades .
Just wanted to document cable yesterday, brilliant level to hit to catch the news move! (lefthand chart) weekly on the right shows a level im watching higher up.
Of course, my pleasure. Will be later as am out at the moment. Also check out Mark Braun - Fibonacci Trading for much more information. I consider m mark to be my mentor and friend. Although I am not affiliated to him in any way and have tweeked my entry method a little.
