Where To Next 900 Pip Move On The Cards??
I've had to look at the 2 week chart for a clearer picture of the directional move for this pair as you can see on the chart there is a nice UNTESTED SUPPLY/SELL zone that starts at 134 which is also a resistance area.
What I would expect to see next on this pair is for price to pop up towards the 134 zone and then SELL off so I will be looking for sell signals on the TRFX indicator as we approach this price or go above it into the SELL zone.
The for this move will be a NEW low in the current downtrend as you can see on the chart a nice target for this is the 125 level which is a previous strong resistance which should now act as a solid support and nice target for bears.
This trade may take a few weeks to play out though if it goes as expected above then there is 900 pips or more to be made on this pair.
Hope you enjoyed the post comment below if have any questiions
What I would expect to see next on this pair is for price to pop up towards the 134 zone and then SELL off so I will be looking for sell signals on the TRFX indicator as we approach this price or go above it into the SELL zone.
The for this move will be a NEW low in the current downtrend as you can see on the chart a nice target for this is the 125 level which is a previous strong resistance which should now act as a solid support and nice target for bears.
This trade may take a few weeks to play out though if it goes as expected above then there is 900 pips or more to be made on this pair.
Hope you enjoyed the post comment below if have any questiions
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Join Telegram group -t.me/+T7V_JSiKKsliMTJl
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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.