Hi all,
The market start to moving, and I have several set up on some pairs such as GBP, US-JY and CHF
The cable actually still not in a very clear direction since I have 2 Andrew Pitchfork setup here, and both of it could be the next move of this pair.Let see the scenario then on cable:
1.Move upside...to move to the north, this pair need to beat several resistance @1.9915 (the upper median line on the yellow setup)-- if this break, a long trigger will be activated and will confirmed when the price break 1.9950 ( the red trendline on the pic) area.If the 1.9950 taken out, the next station will be 2.030-50 area ( the median line of the bigger/white Pitchfork setup), from there need to analyze for further action.
2.Move downside...there is a chance that the price cannot take out the yellow pitchfork setup (the upper median line), and move downside to the yellow median line ( 1.9680 area)..if this also taken out, it a nice confirmation of big downside move of the cable.
I have only one open order so far, sell the Usd-Chf with a small lot using the pitchfork setup on h1 time frame.sell 1.0235 with 65 pips sl and 85 pips tp.I enter the sell on the failure to break the confirmation line of upper median line.Let see how it play then.Good trade all.Thx
UPDATE:The GBP finally make it moves to the upside, Im waiting the price to break 2.0 then I'll meet my setup from there.About the usd-chf, it going down since last night and my sell order already hit the TP for 85 pips profit.Right now no active order so far.Thx all.
The market start to moving, and I have several set up on some pairs such as GBP, US-JY and CHF
The cable actually still not in a very clear direction since I have 2 Andrew Pitchfork setup here, and both of it could be the next move of this pair.Let see the scenario then on cable:
1.Move upside...to move to the north, this pair need to beat several resistance @1.9915 (the upper median line on the yellow setup)-- if this break, a long trigger will be activated and will confirmed when the price break 1.9950 ( the red trendline on the pic) area.If the 1.9950 taken out, the next station will be 2.030-50 area ( the median line of the bigger/white Pitchfork setup), from there need to analyze for further action.
2.Move downside...there is a chance that the price cannot take out the yellow pitchfork setup (the upper median line), and move downside to the yellow median line ( 1.9680 area)..if this also taken out, it a nice confirmation of big downside move of the cable.
I have only one open order so far, sell the Usd-Chf with a small lot using the pitchfork setup on h1 time frame.sell 1.0235 with 65 pips sl and 85 pips tp.I enter the sell on the failure to break the confirmation line of upper median line.Let see how it play then.Good trade all.Thx
UPDATE:The GBP finally make it moves to the upside, Im waiting the price to break 2.0 then I'll meet my setup from there.About the usd-chf, it going down since last night and my sell order already hit the TP for 85 pips profit.Right now no active order so far.Thx all.
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