ENTRY
An absolutely no brainer of a trade!
Lovely pin bar cum fake out. The best part is where we closed below the minor HCR levels immediately under the major HCR (gold horizontal line) that validated the setup. Always a good indication of strength.
UPDATE 1:
FTA hit. Stop to BE.
FINAL UPDATE
Its almost ridiculous the kind of state the markets are in. I can confidently say we're in the toughest of market conditions I have seen in a looongg time. Its as if every level out there is pushing and pulling at price in a big way.
Just a BE out of this.The LCS has held brilliantly and price is threatening to stay into a mode of consolidation at least if not burst to the upside for another scare.
It seems the "take and hold for a runner" theme is clearly not working in these rough conditions, I may have to revert to quick in and out type trades till we the ominous clouds disappear.
Trade safe guys.
I just came across your blog Ghous, great stuff. I took this trade EXACTLY as you described. Maybe there is something in this J16, Jarroo, MBQB11, Dante material after all :P I'm keen to see how this progresses.
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Fundamental Analysis is essential to your trading success as it helps you to assess how economic and political indicators affect the market.
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