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How to Trade a "Stairstepping" Chart
A question that came up in our live webinar series today was, “you mentioned a ‘stairstep’ formation as being something that a trader can use to their advantage…how so?” Take a look at the Daily chart of the USDCHF below… We can see that the pair has been in a strong downtrend for quite some time. In this situation we can see (if we use our imagination just a little bit) how price action has been “stairstepping “ to the downside. As we see this set up forming, a trader would wait for the pair retrace, move against the overall trend, wait for the pair to stall after the retracement and then short the ... (full story)
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- Jun 28, 2011 6:00am Jun 28, 2011 6:00am
- ssyruuss
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Incrediblle
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Trade responsiblypatience is the key/Swing trader
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- Jun 28, 2011 7:29am Jun 28, 2011 7:29am
- rmshkg
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m1kz
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