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Harmonic patterns
Is anyone in pattern trades this week? I closed 2 position early in the week with usd/cad and AUD/usd. But I've been flat since Monday... Anyone see something good?
Replies to This Discussion
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Permalink Reply by Nicholas Schaad on
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Anything 15 min to 4hr
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Market
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Permalink Reply by LineChart on -
you must be a good trader, are you scalping? or using a wide stop or scaling in?
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Not a scalper... Pattern trading is often counter-trend trading so often times my trades last for a few days. I set stops with a 1/4 risk reward ratio for the most part.
As for the GBP/USD, there is a 3-drives pattern in play, but not sure if i'm ready to short that pair yet. Maybe by tomorrow night.
What strategy are you using?
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Ha.... No stocks here, not enough leverage:)
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Permalink Reply by LineChart on
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mostly 100 pip swings, placing pending limits 50 to 200 pips above and below current price, some orders are 10 pip scalpers some are 50 to 100 re tracers, scaling in and out
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Did you short this pair?
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