Rising wedge upper bound reached we can catch some pips on the way to the lower bound and if it breaks then we are set up for an amazing swing trade.
Comment:
our retrace to the bottom yeilded 80 pips and now we retest the top of the rising wedge. This is where I will set a new sell entry and hold for the long swing
Comment:
If you want to play it safe you can wait till it leaves the channel but we have a rejection at the upper bound (orange line)
Comment:
be ready
Comment:
we might bounce here and double top at the upper bound again great place to enter or reenter
Comment:
Alright, I was a bit early, but a double top indeed and that has now moved into a descending triangle.
Entering after the triangle test and at the triangle base. ~100 pips and ~60 pips
Entering after the triangle test and at the triangle base. ~100 pips and ~60 pips
Comment:
Another 78 pips to be had
Comment:
We banked our 73 pips and reversed our position at the channels lower bound. Non Farm Payroll comes out for the US at 8AM EDT and with the COVID-19 unemployment rates, we are expected to have drastic contraction. This should prompt us to short the US dollar and take advantage of an AU bounce.
Like it if you like it, and comment if you have a question. I'm happy to answer!
***This is a reflection of my own educated opinion and should not be viewed as financial advise, please use this for educational purposes only.***
***This is a reflection of my own educated opinion and should not be viewed as financial advise, please use this for educational purposes only.***