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Technical Analysis
Technical FOREX analyses by IVT US DOLLAR & Major pairs
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[QUOTE="Lud Trader, post: 140051, member: 51335"] 5th of December - POUND DOLLAR Friday’s trading plan worked out perfectly well as we sold the Pound Dollar on the level at 1.3540. The market reached TP1. Yesterday, the market reached a short-term support level, so we were able to suggest a long trade with a combo setup. It could seem contradictory, but it is not as in trading all that matters are the setups and the money management. Both trades can be profitable as the stop loss and TP levels are not overlapping. We traded the Buying COMBO setup in the 2-hour time frame, and the market have reached TP1, so our position was protected, and we also closed 50% of the initial position. Now, we keep the same trading plan, we need to break below the 1.34 to reinforce our hypothesis that a swing high has indeed been validated. The stop loss can be lowered to 1.3545. [/QUOTE]
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