Possible trade setup based on (a) possible bullish shark(s). I came across this one in my search to get in at a decent level for a short trade on this pair. The min. shark would end at a possible B of a bullish butterfly but there is always the possibility that we will get to completion of a max. shark, therefor, when entering at completion of the min. shark the SL should be below the max. shark completion level.
3 targets are drawn on the chart, the 2 'conventional' targets at the 38.2 and 61.8 fib levels and the 3rd at the level where a possible C of the bullish butterfly would complete (and that's where I would like to enter short again!).
Because of the fact that we see a 38.2 retracement coming close at 1.3285 I will not risk more than 0.5% of my equity on this trade! This is a higher-risk trade for me...
Đóng lệnh: dừng lỗ
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KVE
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CLOSED TRADE - FAILURE
KVE
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Adding a long on completion of the max. shark!
KVE
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Just got filled, my SL is somewhat lower then initially intended: 1.3275 which is below the 38.2 retracement level... R/R not super but oh well...
KVE
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I just noticed that while I was writing the introduction price spiked into my entry zone...
Now back up a bit, maybe it's over already..., I'll place an order anyway, I'll include an expiration time and monitor this pair so that I can cancel my orders when this setup is invalidated!