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Thread: Trend Line Trading

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#248 (permalink)

05-23-2009, 11:42 AM

cprao

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Join Date: Feb 2009

Posts: 7

cprao is an unknown quantity at this point

Can this be a considered as a range pattern ?

First of all, I apologize if I am posting this one in the wrong section. Please advise me the right spot so that I can move it accordingly.

Next, attached is the EURCHF daily chart of 3 months duration.
I am thinking (being a novice) that this pair is ranging between 1.5000 & 1.5244 from 04/17 and 05/22. Can this be considered as a range pattern and look for the following trade setup?
1. Short at 1.5249 and SL:1.5274(Just 25 pips above) TP:1.5000
2. long at 1.5000 SL:1.4975 and TF:1.5240

Can someone help me validate my views here ?

Attached Thumbnails

Last edited by cprao; 05-23-2009 at 11:45 AM..

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