(+52) week2 GBPCAD h1 mark down phase understandings of momentum

h1

Having a much better sense of following the momentum. But it really helped when I read up on Wyvcoff Market Cycle and I acquired a deeper understanding of the 4 different phases and 2 main types of trades.

From past trade reviews, I fared well in mark up/down phase pips in generally are moved easier than in consolidation phase. This was a successful trade setup. Note that there was not really much of a pullback, However, the pullback was already completed and what was left would be the breakout.

I had also nicely woven in MYlevels to help me exit n trades.

week2 GBPCAD h1 +50 mark down phase 080115

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s