Thinking a neutral range, but still looking for shorts. Making an aggressive play for the 1.0588 level. Making a new Idea to update for the current trade situation, and to show a way of how the same angle blue line is copied to the green ones and spread into a 5 minute chart. Notice extreme points it lines up with. See if it follows along....
If it reaches the 1.059 ish level, I'll watch for some rejection off the level to enter and target the 1.04 range levels below in a new idea.
So far, the idea of a Double Bottom is holding, and it looks as if we have a long and drawn out fishook pattern
If it reaches the 1.059 ish level, I'll watch for some rejection off the level to enter and target the 1.04 range levels below in a new idea.
So far, the idea of a Double Bottom is holding, and it looks as if we have a long and drawn out fishook pattern
Trade active
Trade idea carried in from previous linked idea, still holding entry at a spread adjusted 1.05511, target set to 1.05885, hedge sell stop at 1.05270Note
Hedge order removed, stop moved to 10 pips in profitTrade closed: stop reached
Trade stopped in profit and I'll take that reaction as a good sign for the point of interest for the short. Let the fed speak and watch
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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.