I could never trigger an execution for this setup. The risk
would have been far from what I could bare. But the awe with which this setup
rallied to a higher high (which was my planned target), after it bounced
perfectly from the Potential Reversal Zone; more than disappointed, I was
amazed.
On 4-hour time frame, it‘s an uptrend. Fibonacci retracement
tool was drawn from swing “1” to swing “A” and from swing “2” to “A”. The
resulting Fibonacci retracement-retracement cluster is the green lines.
For sub-pattern on 1-hour time frame, Fibonacci retracement
tool was drawn from swing “B” to swing “A” and another was drawn from swing “B”
to swing “C”. The Potential Reversal Zone or swing “D” is the region covered by
the indigo lines. The “PRZ” sat just below the Fibonacci retracement-retracement
cluster – it’s a good sign.
I restrained as my stop loss conventionally would have to be
below the most recent swing low – which would be more than I could stomach –
and watched bullish bar rise upon bullish bar.
0 comments:
Post a Comment