
Originally Posted by
kraiggoff
Spotted the up ABCD formation. The retracement is a deep C.
Drew the counter trendline. Although there was not break in the counter trend line, the market was getting ready to go bullish. The stochastic was starting to u-turn and the 2 previous candles were indecision candles indicating the end of the bearish movement.
I bought the market putting my stop 20 pips below the A.
As the market moved so did my stop, locking in pips along the way.
The market broke the bullish trend line and hit my "stop".