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Cup with handle, bias is up. I don't read the pattern as a potential double top.
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So are you going to short in the area you marked? If you do, what your stop loss will be?
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Started like an uptrend day. No sharp pullback here then it'd be an early sign.
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Already did1 short one at 4117. but im not sure much will come of it.Im up 35 handles due to a long right after the open at 4087.50. i usually start with a 10 handle stop , quickly raising it to 7 handles for the trade. It depends on the expected profit potential . (current stop is at 4123)
Breakout should be more likely, I don't think it'd be double top here.
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koolblue wrote:Already did1 short one at 4117. but im not sure much will come of it.Im up 35 handles due to a long right after the open at 4087.50. i usually start with a 10 handle stop , quickly raising it to 7 handles for the trade. It depends on the expected profit potential . (current stop is at 4123)
10 handle for stop loss, then what's your usual target? I guess it should be at least 20 handles?
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