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Yes Robinson it was 😀 Now go back to my chart below – the resistance trend line that was cloned ( so hypothetical trend line that I placed on previous Uptick without any other reason except that it follows the angle that repeats itself ) had obviously tons of stop losses just above it .
Broke it and opened a new bar just above it –Buy ( 1.15038 – Stop at 1.14980 -5-6 pips – we’ll talk about Risk Management later in the game)
Now look at my chart with drawn Channels ( yes I am going to be obnoxious with these channels till you all accept it and start drawing them ) – there is a clear picture in front of us.
Obviously it will try to reach for the top of that channel – possible consolidation prior to it )
And to conclude the lesson : these trend lines of mine are working every single time – practice drawing them !
To be able to survive in this game you cannot rely on your gut feeling or opinion, but on full strategy and what you see in charts.
Robinson :
Add the Parallel lines based on your Support line , as I did it.
Draw that resistance line you see on my chart and place it at today’s Top – if it holds, we’ll have a pretty clear picture – if not, repeat the process on the next Top Stop ( when it happens )
Now look how that Resistance line fits in past performance – so that Angle is a Correct one !
Same goes for the Support
Second charts
This the home work you gave us
The GBPCHF I posted during the day was an amazing movement</p>
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