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jmag4 wrote:So I found a HTx on GBP/USD weekly, let me know if I'm seeing this correctly
fib drawn from 25 pips from the top of the weekly HTx
So I can short anywhere in the fib area? for 0.75%?
edited
MightyOne wrote:
Your risk would be ~(0.75 + 0.5%) because you added 10 pips (0.5% risk) to the 15 pip min. space.
When you fade a strong trend, on a large chart, you want the end result to be a wickdoll pattern.
Your next hope is that bodies show the way down
Remember: Bodies show the way by closing over 'something' & wicks show the way by not closing over something.
It would be an aggressive trade, but aggressive trades often pay off in several easy doubles.
MightyOne wrote:jmag4 wrote:So I found a HTx on GBP/USD weekly, let me know if I'm seeing this correctly
fib drawn from 25 pips from the top of the weekly HTx
So I can short anywhere in the fib area? for 0.75%?
edited
Your risk would be ~(0.75 + 0.5%) because you added 10 pips (0.5% risk) to the 15 pip min. space.
When you fade a strong trend, on a large chart, you want the end result to be a wickdoll pattern.
Your next hope is that bodies show the way down
Remember: Bodies show the way by closing over 'something' & wicks show the way by not closing over something.
It would be an aggressive trade, but aggressive trades often pay off in several easy doubles.