Why the high at 0.724 is doomed to be taken out
Updated
Hey Traders, here is a little more explanation about this Trade. To understand what is going on here allow me to introduce you to one of the most powerful tools in my trading Arsenal. The Stop Grabber
This pattern is initiated by a penetration of the MACD Predictor line and by a quick retrace back above said line.
If this happens then the Consequence of this action is a move above the major high or low to collect the stops that have been placed there by people using the MACD to identify Trend changes and who are now on the wrong side of the Market. As you have
Explaining the MACD Predictor in full detail goes beyond this Analysis but I will do that soon, promise.
As I show you here we had two bullish Grabbers from this MACDP on this chart and the next major high is the one marked by me. Coincidently we also have the minimum Target (COP) of the move from 20.01.2016 to 09.02.2016.
Enjoy and lets make some pips :)
I will show a link below to a screenshot from my Platform where you can see the MACDP in full beauty :)
I have just seen that we have a new Bullish Grabber from Friday! Check the link to my Chart below.
This pattern is initiated by a penetration of the MACD Predictor line and by a quick retrace back above said line.
If this happens then the Consequence of this action is a move above the major high or low to collect the stops that have been placed there by people using the MACD to identify Trend changes and who are now on the wrong side of the Market. As you have
Explaining the MACD Predictor in full detail goes beyond this Analysis but I will do that soon, promise.
As I show you here we had two bullish Grabbers from this MACDP on this chart and the next major high is the one marked by me. Coincidently we also have the minimum Target (COP) of the move from 20.01.2016 to 09.02.2016.
Enjoy and lets make some pips :)
I will show a link below to a screenshot from my Platform where you can see the MACDP in full beauty :)
I have just seen that we have a new Bullish Grabber from Friday! Check the link to my Chart below.
Note
Here is the link to the pictures from my Platform where I have the MACD Predictor, enjoy and feel free to ask any questions!twitter.com/xSheltemx/status/701541477684535298
Note
Here is another example I captured two weeks ago, three Stop Grabbers marked the start of the rebound in GER30 :)mql5.com/en/charts/4646983/ger30-h6-h4-fxpro-financial-services
Trade active
Trade closed: target reached
This is close enough to the top as I do not want to face the rough action that could follow once its taken out and could go both ways
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