Tuesday, July 25, 2017

Divergent Head And Shoulders GBPUSD and EURAUD


GBPUSD


  • Pattern Divergent: Head And Shoulders
  • Advance and other Pattern forming
    1. ABCD
    2. Descending Triangle (waiting for break out)
    3. Riseng Wedge (waiting for break out)
    4. Gartley Pattern
  • Time Frame : 4hrs
  • Detected 7-24 Euro Session
  • Traded 7-24 Us Session
  • Ended = On going
  • Votality 4hrs 40 Pips
  • Stop Lost = allowable pips based on trades size
  • Trade Size = $0.30/pip
  • Take Profit = 78.8% Retracement of XA


EURAUD   


  • Pattern: Divergent Head and Shoulders 
  • Other Pattern Forming
    1. Flag Pattern (4hrs)
    2. Channel Down (4hrs)

  • Time Frame: 4hrs
  • Detected 7-23 Sunday Week end
  • Traded 7-24 Us Session
  • Ended = On going
  • Votality 4hrs = 29 pips
  • Stop Lost = 88% Retracement (above Head Point)
  • Trade Size = $0.10/pip
  • Take Profit = Upon completion of head and shoulders

Plan Application of Trading EurAud

     Fist trade = forming of Right shoulder trade size $0.10 Take profit  and stop lost is 1:1 Ratio. Once Take Profit is hit I will be having 100 pips equivalent amount is $7.94. This amount or pips i will use it for my second trade using Trade Size of $0.20 per pip. Point of entry will vary

  • If MACD crossover going down I will wait to cross over going up or Get Fibo on the right shoulder
Point of entry proposal will be 61.8%  from neck line to Right shoulder
Stop lost will be the whole 100 pips ($7.94) profit I earn on the completion of right shoulder but i will record the votality on this time to confirm safe stop lost
Take Profit will be just below the Yearly major Pivot 




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