Jalarupa wrote:This last weeks action
USDCADD1.PNG
The Start and Target...
USDCADH1.PNG
Trend Validations, Additions and Close with Reversal at Zline...
Today's play...
AUDJPY.PNG
Channel Targets and reversal case...
AUDJPY123.PNG
The days play... 1-2-3... as MO teaches
However the last long with all the days winnings packed into it is basically a trade that I love to do at cone extremes... as soon as price returns I go in the opposite direction of the price action... (I have used this strategy to trade options on mining and resource stocks this year to great effect...) but yeah its just a No 2 entry at heart... These number 2 entries are a really nice way to get in early on in the move...
Notice how many times a 123 reversal is triggered at a cone / channel line .Yesterday all of the EU pairs that I trade were clearly triggered at that juncture .