Hi Triantus, I have looked at your chart and I have to say I can't see the chart for lines. Sorry I don't see how anybody can make a trade with so many indicators, MA's and other stuff.
Only my opinion.
If you look at the daily or the 4H chart you will see that around 6730 there is a support area. The price hovered that value before shooting up on Thursday. It is conceivable to think, should the price cross 6790 (which it did today), that around 6730 it will either bounce upwards or continue falling on to the downwards channel that started forming on the 6th of May. However, since there are no fundamentals to legitimate this channel, I'd say it will sooner or later resume the previous upwards trend. We are reaching post-2008 maximums here, so who knows what will happen?1 more thing i forgot to mention. jarrat, why do you place your stop @6730 where it is obviously a resistance level? wouldn't it be better to have it at least 20 pips below the WPS1? although in today's case, it'd be better to close longs and wait to re-initiate after the key levels are tested and PA around those levels show the beginning of a retrace.
View attachment 15071
Hi Again, Not sure if you can see my chart, if you can you will see 200 SMA for trend, R/L and Stochastic. Only trade with trend, buy at extreme lows with Stochastic's with Price action at Support Levels and only sell at extreme highs
with Stochastic's with price Action. Charts are clean and easy to make decisions.
What do you think?
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