GBPUSD hit TP of 1.4854 last night and started to come down immediately.
A possible retracement is FB67, where Chikou is going to hit the bottom of the cloud and around EMA200 on 1H chart. It's also 20 pips below flat Kijun on 4H chart. Shall watch out for the market direction around that region.
Plan:
1. If 1H price bounces up to 1.4703 (EMA200 on 4H), wait for price to close outside cloud to short, TP 1.4655. But I'll have to see then where a reasonable SL should be, and calculate the possible risk:reward ratio. A no go if it's less than 1:2
2.If price fall to 1.4655, watch out closely if it shows sign to bounce up or going further down. For short, SL around EMA200 on 1H chart, TP 1.4555.
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Seems like we have contrary view... and the level we have picked is --- same >_<
ReplyDeleteWished both of us good luck~~ :p
or you are also looking for opportunity to Long?
ReplyDeletemaybe because I have a biased view that a big crash will happen soon...
ReplyDeletei'm trying to look at things more "objectively", but the bias is there...
i'm thinking, since now it's going to be a C2 retracement, i'll look for opportunities to both long and short.
remember, all my posts are not to share my trading plan because i have no experience whatsoever. just to record my own thoughts...so don't get influenced...haha
Ripple, I have just initiated a long.
ReplyDeleteI believed u also practise the EMA50 on 4H chart rule?
Also sharing only la... :p
I am still looking for long
see my eyes red red now? :P
ReplyDeletehad a bad short. thought of entering a long when i got triggered out coz it looks like a nice reversal. but didn't.
anyway, well done there!