A rising wedge pattern has been spotted with price below the lower trendline.
Traders who have longed this pair should consider exiting any long positions.
Plotting a fib line, I am only comfortable to short when price breaks below the 23.6% retracement.
Key support and resistance levels have been drawn using the navy blue lines.
Main TP will be 50% fib retracement.
R:R at about 1.5, good luck.
Traders who have longed this pair should consider exiting any long positions.
Plotting a fib line, I am only comfortable to short when price breaks below the 23.6% retracement.
Key support and resistance levels have been drawn using the navy blue lines.
Main TP will be 50% fib retracement.
R:R at about 1.5, good luck.
Trade active
Note
Having some floating loss at the moment.Note
Will look to close early if price goes above the trendline.Note
I know it has been a few days, but the effort to wait was not wasted, we are in the money now. Hope you guys did not close the trade early.Suggest to shifting SL to breakeven for a risk-free trade for those who are still in the trade. Have a good week ahead.
Note
We are in the money at about 160 pips, suggest to shift SL to 50 to 100 pips profit.Trade closed manually
Trade stopped out at 100 pips profit as SL shifted.
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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.