hi all.
(Sorry i come from non-english speaking environment)
I notice this pattern on EU chart lately..
and this is very frustrated things
It can be a good thing and can be a very frustrated things too
This appear on any TF, from 1 minute, 5 minute, to 1 hour, 4 hours chart...
What the price do is it move in a shape of big "V" (hence i name it "vee"), either V or inverted-V (^)
(please correct me if i am wrong) In Fibs, this would appear like 100% retracement, or in goodman wave theory, it is 100% retracement too.. i not sure why it appears so often lately.. Maybe someone can share ways to trade this?
Frustration
What is most frustrated thing is, if i in wrong direction in the beginning of the "V", i will be taken out on my SL
But on the other hand, if i do not set any SL, the price will go back to there at end of the day, and i would not have any loses.
( Setting a very large SL doesn't help too, cause if the price really move other way, i will have a huge loss)
The Good?
If we have some way (Maybe anyone here can share?) to trade both way of the "V", than it is really good earning. I not mean catching the tops and bottom, just in middle.
Trading the "V" in middle, both way, could yield 200pips, or even 300 pips in a single day... in 0.1 lot of xxxUSD, it will be few hundred USD earning, in a same day...that is very tempting.
So just like to share here.. and we all can discuss
anyone trade both way of the "V" shape?
(Attach here is H1 and H4 chart showing lots of "VEE" )
(Sorry i come from non-english speaking environment)
I notice this pattern on EU chart lately..
and this is very frustrated things
It can be a good thing and can be a very frustrated things too
This appear on any TF, from 1 minute, 5 minute, to 1 hour, 4 hours chart...
What the price do is it move in a shape of big "V" (hence i name it "vee"), either V or inverted-V (^)
(please correct me if i am wrong) In Fibs, this would appear like 100% retracement, or in goodman wave theory, it is 100% retracement too.. i not sure why it appears so often lately.. Maybe someone can share ways to trade this?
Frustration
What is most frustrated thing is, if i in wrong direction in the beginning of the "V", i will be taken out on my SL
But on the other hand, if i do not set any SL, the price will go back to there at end of the day, and i would not have any loses.
( Setting a very large SL doesn't help too, cause if the price really move other way, i will have a huge loss)
The Good?
If we have some way (Maybe anyone here can share?) to trade both way of the "V", than it is really good earning. I not mean catching the tops and bottom, just in middle.
Trading the "V" in middle, both way, could yield 200pips, or even 300 pips in a single day... in 0.1 lot of xxxUSD, it will be few hundred USD earning, in a same day...that is very tempting.
So just like to share here.. and we all can discuss
anyone trade both way of the "V" shape?
(Attach here is H1 and H4 chart showing lots of "VEE" )