Closed trade. (Slightly lowered TP point).
Trade Specifics:
Opened long position 12/11 @ .88178
Closed 12/21 @ .88779
60 pip gain
Trade took much longer to develop than anticipated.
Current Analysis & Future Expectations:
Price is at a moderate resistance. Felt good time to take profits. I anticipate a pull back.
- First zone to watch is .8850 - .8840. Pinbar, engulfing pattern, or other reversal price action would be bullish and provide a nice R/R.
- Next zone is .8831 - .8810. A break of that zone would indicate a more pronounced pull back/correction.
- Next zone of interest is .8766 - .8746. There are weak supports before this, but if this zone is broken, expect further decline. Also, it would no longer be a 'pull back' (based on my criteria). For a "pullback", I would ideally want to see continuation confirmation prior to .8806.
1D:
1W:
Based on 1W, price action currently bullish. Longer term trend down and current consolidation. Pinbar off of lower consolidation area followed by bullish price action. If bullish price action continues, price target to .8990 (top of consolidation range). Current pullback needs to be moderate to support bullish price continuation.
Trade Specifics:
Opened long position 12/11 @ .88178
Closed 12/21 @ .88779
60 pip gain
Trade took much longer to develop than anticipated.
Current Analysis & Future Expectations:
Price is at a moderate resistance. Felt good time to take profits. I anticipate a pull back.
- First zone to watch is .8850 - .8840. Pinbar, engulfing pattern, or other reversal price action would be bullish and provide a nice R/R.
- Next zone is .8831 - .8810. A break of that zone would indicate a more pronounced pull back/correction.
- Next zone of interest is .8766 - .8746. There are weak supports before this, but if this zone is broken, expect further decline. Also, it would no longer be a 'pull back' (based on my criteria). For a "pullback", I would ideally want to see continuation confirmation prior to .8806.
1D:
1W:
Based on 1W, price action currently bullish. Longer term trend down and current consolidation. Pinbar off of lower consolidation area followed by bullish price action. If bullish price action continues, price target to .8990 (top of consolidation range). Current pullback needs to be moderate to support bullish price continuation.
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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.
Related publications
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.