as well as the PRZ I’m using the channel created by the pitchfork as a trade entry, nice touch and rebound on the sliding parallel, stop below obvious support at 17890, target is the median line
1 hour chart: I adjusted my stop lower to below the major level of support at 17880, still in the trade
just pipped, it happens
I’m surprised to see no comments yet, in this interesting thread.
Just posting to let you know I’m following the thread with interest, and thanks for posting them, BillyRay.
No trade here risk to reward profile is poor
bit late snapping this missus interupted me target is D where AB=CD RR is 1:1
straight forward trade, I had to take this trade mid candle sometimes you’ve no choice
Looking for shorts in the PRZ
I didn’t take a short trade, caution to me means waiting for 2 confirmation candles. Notice on the 5 min how AB=CD again, this happens a lot. Looks like we have a reversal/possible change of behaviour just where it was expected. I will be looking for longs if we get an established HH and HL on the 5. This reversal helps validate the speculative fork on the hourly
Often I would take a short here as its common for price to hit this area in an established trend and reverse sharply, the target would be the 1.217 extension making for a tight stop and great RR. Its a common chart pattern, it might have a name Gartley or Bat or something, I will explain more when I get a tradeable one but the fact we have hit the PRZ on the 1 hour and reversed has put me off taking this trade
where resistance becomes support
I dont take these types of trades very often and if stopped will not attempt again during this session but if successful will use a fixed trailing stop of 10 pips
Update stopped -5
Price is approaching channel resistance and D where AB=CD, the fork is not the same as the one on the hourly. Price is heading towards new all time highs
I took this trade about 45 mins ago but was too distracted at the time to post it. interuptions hopefully over
Straight forward trade
