Going long on the dax to the R2 weekly pivot point. Dax has broken R1 and should move on to R2. If it does not hit it this week I will hold ad updated to next weeks R2 pivot point.
No stop loss as I use a recovery method. OANDA:DE30EUR
Overall market is controlled by sellers. Buyers are currently moving market up and once the price is right sellers should come in and move the market back down. The line drawn is from the daily chart and depicts seller zone however I think we will see confirmation over the next 24hrs in this yellow circle drawn.
This is not an active trade I will update if entry...
Already took 20 pips out of this earlier but I will re enter soon.
Inside seller territory on D 4H 1H. 1H chart shows sellers taking over buyers. Soon see a drop.
I am entering at price marked in chart.
Target: 51 pips
RR 2.73
Buyers are showing signs of exhaustion
Price is still in Daily sellers territory.
If sellers come in and challenge the buyers here I can see price drop to 125.086.
I will update this if I enter.
Price is approaching 4H seller zone and is already in daily seller territory.
I will look for sellers to come in over the next 12 hours and depending on what they do I will look to short this pair.
I will update as this trade manifests.
Price is in an area of sellers and the market is in control by sellers.
I predict a fall in price to the level of 0.93878
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