Posted by millionaire | Thursday, June 19, 2008 | | 0 comments »


i wanna post again about usd/chf chart above,previous i gave the signal like below:

wednesday trade setup for usd/chf

buy stop 1.0460 tp1=1.0510 tp2=1.0540 tp3 1.0590 stop loss 1.0410

sell stop 1.0395 tp1=1.0350 tp2=1.0300 tp3=1.0285 stop loss 1.0445


here i would like to explain why the price fail to continue rise after hit our buy stop,technically price was succesfully breach the triangle and horizontal line,but the candle 1h close below that level,thats means the false breakout.The lesson from this u must pay attention to a closing or opening price with the candle or bar chart.it all depend on ur chart style.The price closed below our buy stop make the strenght lose momentum going ahead.The result candle show a shooting star pattern,its reversal sign.it's good if u make a manual order below the support or above the resistance where normally i place with price label or with horizontal or trendline in my chart.if u have a question just drop me a comment and ur question are most welcome.ok trader happy trading and good luck;)

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