Anticipating a breach of sliding parallel on GU60!
Idea: Simple long trade on breach of sliding parallel!
We have two downward sloping median lines where price has met support and then cleared out the previous high. I am using a special "mini" median line based on the closing price and a 5 day moving average for the entry. My logical target is the apposing white dashed median line.
Please Note: if my entry is not triggered in this hour I will slide my entry point down along the sliding parallel until either my entry is triggered or if it drops down past my stop loss ( before entry activation ) I will cancel trade and re-evaluate.
Sincerely,
TIK
We have two downward sloping median lines where price has met support and then cleared out the previous high. I am using a special "mini" median line based on the closing price and a 5 day moving average for the entry. My logical target is the apposing white dashed median line.
Please Note: if my entry is not triggered in this hour I will slide my entry point down along the sliding parallel until either my entry is triggered or if it drops down past my stop loss ( before entry activation ) I will cancel trade and re-evaluate.
Sincerely,
TIK