Tuesday, July 10, 2012

6E - 1 hour and 5 min chart together

For this trade, you would have to spot the divergence being setup on 1 hour, and at the same time recognize head and shoulders pattern on 5 min chart, to take the trade at close to the high, and hold it for 5 hours to get the full move being made on this setup, as the price goes up and down making lower high and lower lows. 1.2246 that it hit is -50% fibonacci extension from 1.2759 - 1.2417, which was the initial down move from the previous high.

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