Disclaimer: I will not mention the Sl and/or Tp, this is purely an insight into my thought process whilst analysis the chart.
Firstly, those familiar with Elliot Wave counting will notice that if you zoom out to the H4 timeframe, we are in an uptrend (a long one at that). And that we are currently in the third leg impulse wave. Price action is carefully moving at...
Off the backfoot of USD strength.
Strength from an increase in yields and an increase in economic aid from the Biden administration expected in the global market.
Purely fundamental analysis. Completely different from the previous trades on the TV Profile.
Higher high. Target is very conservative because on the higher time frame we are in a range so its important not to get greedy and trade like a professional and not like a greedy amateur. For the Fib lovers the pull back was a 61.8% fib retracement. I cleared up the charts because people complain that I put too many lines and zones and a lot more. Anyway, cheers...
