MoneyTec.com Traders Community Forum - View Single Post - Short-Term.....Swing Trade (Set-Ups)

FxKos · 08-06-2007, 11:23

Posted this chart before, thought I'd update it since I noticed MarketWavez has a similar wedge chart.

The dotted red line marked "4a" would be an early target if it makes it there. The solid red line marked "4" is the real target. The intermediate horizontal is red line is potential support. I like using 2 points of contact trendlines that aren't at the top or bottom of a previous move as support. I find these areas really useful for shorter term trading (i.e. if the daily bar closes there, the next day take all long trades on any intra-day/scalping system.

Overall, I like to watch daily bars close around these lines and then combine this with shorter term analysis to determine where I can increase risk.

Cheers.

Kos

08-06-2007, 11:23	#839 (permalink)
FxKos level 1 Join Date: Jan 2006 Posts: 31 Rep Power: 3	EURUSD Wolfe Wave Developments Posted this chart before, thought I'd update it since I noticed MarketWavez has a similar wedge chart. The dotted red line marked "4a" would be an early target if it makes it there. The solid red line marked "4" is the real target. The intermediate horizontal is red line is potential support. I like using 2 points of contact trendlines that aren't at the top or bottom of a previous move as support. I find these areas really useful for shorter term trading (i.e. if the daily bar closes there, the next day take all long trades on any intra-day/scalping system. Overall, I like to watch daily bars close around these lines and then combine this with shorter term analysis to determine where I can increase risk. Cheers. Kos Attached Thumbnails