Trade closed: stop reached
The pair crossed the stop line and continued higher. Expecting a turn anywhere from around Friday's close at 6980 to a move to the 125% level. The 100% line is the next major possible turning point. A move on 125% also brings the possibility of a break above the Aug. high and an underlying trend reversal. Trade active
Short was closed today nearer to the LOD than the close. The pair could go either way next week/month. It came close enough to the 100% extension to consider the move finished, but it is not confirmed by a bottom and could continue lower in the short term. It could also correct with a leg up before continuing down. I will watch for a dot entry on the short side. Trade active
The pair is building a bull flag atm. It's clearest on the 4hr, for me. It could continue a couple more sections and end up between the 3/8 & 50% lines (3/8 down from the high). If it gets low enough I may add, but am already long from the low 57s. In short, it'll probably go a little lower, but at some point soon it's going to launch. Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.