Lone and behold, price broke both channels at the intersection point (see purple bubble), then clearly rejected old support. Price should proceed to move down in weeks to come.
I picked my stop at the stop out point of the first obvious sell signal knowing the institutionals are going to clear stops before moving down. I picked my stop behind the highest high, knowing if price moves beyond that point the trade and channels are invalidated. Seems unlikely after holding for several months.
Willing to risk 2% and break my habit of small stops. Going to hold the entire position for T2.
Stop above the higher high 114.756.
Original Entry, low of the signal bar add 2 pips 113.32.... High of signal bar 113.637. As a strategic entry, I'd like a fill 2 ticks above the signal bar. STEntry - 113.657. Difference between Stop and ST entry 1.099 pips.
T1 112.558 T2-111.459 T3-110.360
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Disclaimer: Oanda data shown. This information is my own opinion and should not be considered investment advice. Please consult a professional before trading.
Holding on tight, what a great entry. Barely taken any sweat at all.
Patience has paid off as we are profitable by roughly 160 pips thus far. I am holding strong for T2.
End of year picture. Lots of opportunity around the 114 level.