Trade recap

I took this trade on consolidation of the 38% fib at 4322, firstly I took a long at 4327 and took a quick scalp of a few pips then re,entered at 4331 using the few pips made as a buffer , when the trade was up 35 pips I moved my stop to +25 as lower highs were being printed, as I speak it looks like bulls want to try and hold this line ,all the best Dave

Trade recap

The chart at the bottom showed a range of 35 pips it doesn't show the bottom of the range, the Bollanger bands have flattened top and the bottom range is well defined by price, it starts to break higher from the middle of the range at 16.3o with the final break higher at 19.00 leaving traders at 16.30 ,3980 behind, from 3980 to 4050 some 70 pips, the price starts drifting lower when Moody's junks Ireland sending price back to 3980 where a stall develops this is where I entered long with a risk of 7 pips so even though it was a loosing trade it wasn't painful

This trade was a good example of a Hockey Stick entry, with out Moody,s
the odds would have been in my favour but Anything can Happen at any Time hope this helps Dave good luck and tight stops .

Trade recap

One trade I like too look for is a Trendline break, too act as support or resistance. The chart to the left shows a trend in place for 2 days, at A the trend line holds 4365 on the first candle on a 15 min time frame and prints a high at B 4392 these traders are late to the party, the price then stalls at A 4365 for 30 mins.          When the break lower come,s traders with no stop discipline, are trapped at A/B The long pin at B was best entry for a short on visit back with a very tight stop, 3 days later they have a chance to bail for a break even trade, ie buyers become sellers . Leading back into this area there was a big move up from D to C of 97 pips. Profit takers from C trapped longs at  B and new seller,s combined to make a nice quick pull back ,I sold at 4392 expecting some quick pullback ,as my stops are moved to -7 pips immediately and then to break even when at + 4  a stall of 60 seconds is enough to move stops to break even and then control trade. Hope this helps, Dave good luck and tight stops