Mr. Hyde wrote:Old idea. But what if you got one or two of these type of trades a week. What if you got one a day. 20 currencies, 4 weeks in a month, 5 trading days a week. So literally each pair would have to offer you one chance a month. Doable? Maybe maybe not. but if you were basing the trade off of hTF it would be worth a shot.
Or what if instead of an entry, you looked for an exit and then looked for your entry and did everything to hold until you hit it? Just spitballing.
Yeah. Def like this idea. Gonna play with it more.
1.2600 is a beautiful place for price to bounce and turn up at after the abc correction, which is also the 61.8 fib and the down sloping median line. Then there is a H&S pattern that could line up with the retest of the upsloping median line. 1.3000 the ultimate target (found a pause and go on the 4hr chart, hence the dash red line) also the top of the up median line, plus a BRN. Then even further 1.3300.
GBPUSDDaily.png (68.8 KiB) Viewed 5913 times
A quick look at the weekly shows y 1.2600 and 1.3300 are important. There the extremes of the range were currently trading in. And what do we do in ranges. Trade from extreme to extreme.
Mr. Hyde wrote:Targets are 1.2600, 1.2550, 1.2475. Price arrows are 1st entry and waiting entries.
makes me feel all warm and fuzzy to be trading the same direction as you. 1.2600 is my line in the sand. Also if it takes lets say Mon and/or Tue to get down to it. Then you could would see price change direction, setting the low of the weekly candle then allowing it to continue up. Its an idea I think bredin talked about, opposite extremes first.
