In this case I don't expect partisan way of trade. You know - run in, shoot to kill, run to the forrest (which translates to sell/buy THE top/bottom, hit the final target in matter of hours, close the trade). Especially because the next week is full of USD news (see forexfactory) and things will get rocky. It may be that I'll enter the trade too early with too tight stop loss and blow it. I'll just enter a new trade when ready. Costs are part of trading.
Nevertheless, plan is here for both scenarios, I'm willing to take small losses on the way (in each direction) and enjoy the ripe fruits at the end.
Charted elements are just for orientation, no trade was set up yet. I'm also not decided yet how to enter the trades - set limit and/or stop orders (I really like that COC functionality :) or will I have time to stare at charts and hit the Buy/Sell button when I'm confident.
Here are some images for orientation.
Weekly - nice channel in the last two years, obeying Fibonacci levels:
Daily - if history is to repeat itself, we could see the bottom of this channel:
4H zoomed in from daily:
4h short plan:
Daily long plan (it was messy on 4H chart):
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Nevertheless, plan is here for both scenarios, I'm willing to take small losses on the way (in each direction) and enjoy the ripe fruits at the end.
Charted elements are just for orientation, no trade was set up yet. I'm also not decided yet how to enter the trades - set limit and/or stop orders (I really like that COC functionality :) or will I have time to stare at charts and hit the Buy/Sell button when I'm confident.
Here are some images for orientation.
Weekly - nice channel in the last two years, obeying Fibonacci levels:
Daily - if history is to repeat itself, we could see the bottom of this channel:
4H zoomed in from daily:
4h short plan:
Daily long plan (it was messy on 4H chart):
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Trade closed: stop reached:
Take one: shorted yesterday evening, today stop loss -30 pips reached.
