Yesterday I responded to another trader by means of this EU buy chart. I also posted this on my Facebook.
www.facebook.com/wwwtimstuytscom.
My first target got hit yesterday and this morning I added another buy at 1.1133. stops at break even, tp 2 got hit as well so let's see how far it can go. Comparable to what I wrote for NZDUSD, When dealing with these ending structures watch out for reversals that turn into zig-zag correction's. This is what stops most traders out but if you understand the dynamic you know how to protect yourself against this. I play it both way's, I keep my short and trade against it once the opportunity presents itself because the move lower will happen sooner or later, so if my short got stopped out at break even, no big deal because I will sell it from an even better level. In the mean time the buy gives me profit for day trading.
www.facebook.com/wwwtimstuytscom
www.facebook.com/wwwtimstuytscom.
My first target got hit yesterday and this morning I added another buy at 1.1133. stops at break even, tp 2 got hit as well so let's see how far it can go. Comparable to what I wrote for NZDUSD, When dealing with these ending structures watch out for reversals that turn into zig-zag correction's. This is what stops most traders out but if you understand the dynamic you know how to protect yourself against this. I play it both way's, I keep my short and trade against it once the opportunity presents itself because the move lower will happen sooner or later, so if my short got stopped out at break even, no big deal because I will sell it from an even better level. In the mean time the buy gives me profit for day trading.
www.facebook.com/wwwtimstuytscom
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