A shooting star candlestick has formed on the hourly chart. I went short early based on the 15 min chart price action.
A stop is placed slightly above the swing high.... in case, I am wrong. Will trail the stop once the post is in green.
Below is the hourly chart as of 9 am Malaysia.
A stop is placed slightly above the swing high.... in case, I am wrong. Will trail the stop once the post is in green.
Below is the hourly chart as of 9 am Malaysia.
UPDATE: The beast keeps ranging with neither bulls nor bears are really in control. However, the bears camp has the slight advantage now as the bearish flag has been broken...
I managed to take partial profits and will break even should the stop-loss is hit on the remaining lot. Below is the hourly chart at 3 am Malaysia (17 hours later!!!!)
I managed to take partial profits and will break even should the stop-loss is hit on the remaining lot. Below is the hourly chart at 3 am Malaysia (17 hours later!!!!)
Salam,
Selamat Hari raya!!
Just nk tny, what is the risk:reward ratio for the trade? and based on what?
Tq
risk for trade is 65 pip...
rewards??? ermmm maybe 135.xx - 800 pips
based on the double top on the daily chart
see http://gbpjpy-analysis.blogspot.com/2009/09/gbpjpy-analysis-possible-double-top-on.html