Samuel2565
New Member
I'm short from 1.2176 sl: 1.2265. I took the position Friday
morning around 8AM EST. I wanted to trail the stop, but
fell asleep because of whacky sleeping patterns last week.
Luckily price didnt suddenly reverse on me through my stop
again. I'm thinking about moving the s/l asap to 1.2170, about
breakeven. I'll cover on another bounce around 1.1205 area,
but I'd like to leave the trade open and hopefully make some
decent gains on a break below 1.2060 area. I wish I wouldve
gotten in earlier, but have been focusing on the GBPUSD and
USDCHF lately.
Is anybody in this trade?
What do you think about moving my stop to 1.2170? Too tight?
I placed it here because I'm thinking there is at least two levels
of resistance from where we are now on Fri close @ 1.2124:
1)1.2140 Fri high after bounce from 1.1203 (near Fri low) and ~50%
fibo from Friday high to 1.1203
2)just above 61.8% fibo (1.2159)of 1.2213->1.2077) and a prior intraday
support for Friday
If it breaks these, then I will wait until a break of 1.2213 to glong
or play smaller fibos to look for small pip gains until there is a clear
direction??
I want to be in a somewhat of a decent position just in case if it
breaks out of this daily consolidation. I might be able to re-enter
on a bounce of 1.1205 area and back down off of 1.2200 area. What do you
think of my reasoning?
How can I improve this type of fibo support/resistance analysis ... maybe with some indicators? I noticed the intraday and daily double tops and headandshoulders, btw, but didnt mention them. Both are trend reversal signals, so it is a high probality we will see more downside, but it's still kind of iffy as to when for me.
Thanks
snprr
morning around 8AM EST. I wanted to trail the stop, but
fell asleep because of whacky sleeping patterns last week.
Luckily price didnt suddenly reverse on me through my stop
again. I'm thinking about moving the s/l asap to 1.2170, about
breakeven. I'll cover on another bounce around 1.1205 area,
but I'd like to leave the trade open and hopefully make some
decent gains on a break below 1.2060 area. I wish I wouldve
gotten in earlier, but have been focusing on the GBPUSD and
USDCHF lately.
Is anybody in this trade?
What do you think about moving my stop to 1.2170? Too tight?
I placed it here because I'm thinking there is at least two levels
of resistance from where we are now on Fri close @ 1.2124:
1)1.2140 Fri high after bounce from 1.1203 (near Fri low) and ~50%
fibo from Friday high to 1.1203
2)just above 61.8% fibo (1.2159)of 1.2213->1.2077) and a prior intraday
support for Friday
If it breaks these, then I will wait until a break of 1.2213 to glong
or play smaller fibos to look for small pip gains until there is a clear
direction??
I want to be in a somewhat of a decent position just in case if it
breaks out of this daily consolidation. I might be able to re-enter
on a bounce of 1.1205 area and back down off of 1.2200 area. What do you
think of my reasoning?
How can I improve this type of fibo support/resistance analysis ... maybe with some indicators? I noticed the intraday and daily double tops and headandshoulders, btw, but didnt mention them. Both are trend reversal signals, so it is a high probality we will see more downside, but it's still kind of iffy as to when for me.
Thanks
snprr
