Moved cease to 10.3000.
Pair is coming the 23.6 degree. I am extremely familiar with my profit but I'd like to remain in the trade. This is a large bullish candle so I would expect some profit taking. My stop is pretty tight so if it gets struck I am just gonna have to be happy with what I have but I'm not loosening my stop up. The pair may be printing reduced highs if it will not break above the november 20th candle. If it does, look out!
First, allow me to say that I do not know anything about Bollinger Bands. I bought a book on the rings two years back and never opened it because of time limits. I'm now gonna start that book thanks to code4capital. Certainly the upper band meant something cuz it bounced from it.
Also, this trend lineup clearly represents an important degree. The pair broke it but has now reverted back into it. Perhaps it acts as service but I am moving my cease to 10.4000. I really feel like I am giving money away by not shutting the trade right now. There's gonna be some pull back and then it will continue long I believe.
Price is reaching exhaustion levels - this pair is going to turn around and start a new trend to the downside. You may receive your 10.5, however do not expect a whole lot more.
What are you using to your fatigue levels? I really don't disagree I'm simply adding anything useful to this chart.Originally Posted by ;
I am using DeMark studies to ascertain possible trend reversal points. But do not listen to me since I have never exchanged this pair - I just pulled the chart and had a quick glance. From what I see the trend is going to reverse, but you may understand how this pair behaves much better than I.
Pair gave back a lot of yesterday's bull candle. Pair is beginning to fall into a rangy kind of sense. I'm still searching long but not ready to pull the trigger.
On the 1 hour chart using a Bollinger Band 20,2 it seems like its going ot start a tendency of of remaining between the center and lower group. Maybe just riding the band down.
No leadership, it's spinning on the middle band and sitting directly between the 23.6 and 38.2. I have no opinion. I'm still looking to go long over the ideal signal. I removed the trendline because it obviously was not a factor any longer.