EURCHF Triangular Contraction, April 13, 2017, Thursday
Observation:
Price respect dynamic resistance of Triangular Contraction and shows a bearish move.
Consolidation phase nearly done as price moves closer to the corner of the triangle.
Analysis:
Higher probability for a Short than a long as Triangular Contraction slope is leaning downward.
Conclusion:
Place short order with tight stop loss at the last higher high for better risk management of risk reward ratio.
Price respect dynamic resistance of Triangular Contraction and shows a bearish move.
Consolidation phase nearly done as price moves closer to the corner of the triangle.
Analysis:
Higher probability for a Short than a long as Triangular Contraction slope is leaning downward.
Conclusion:
Place short order with tight stop loss at the last higher high for better risk management of risk reward ratio.
Nota
Lesson learned:If short, place SL at the dynamic resistance of the Triangular contraction.
If long, place SL at the dynamic support.
More lessons to be learned at Pivot points.
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.