Was in long earlier in the week but could see smart money was going to load at lower prices so closed with small profit and re-entered 20 pips lower at 1.0460. This chart also illustrates the importance of the Gann 2 day swing chart rule for predicting prices. As you can see the counter trend lower happened right on the 50% and now the rejection of the C-D move which indicates sign of strength.
Also keep in mind we have triple bottoms on the daily and weekly along with 2 months holding at the same low level indicating a sign of strength for now.
Also keep in mind we have triple bottoms on the daily and weekly along with 2 months holding at the same low level indicating a sign of strength for now.
Comment:
Bracket order at 1.0420 closed out long and triggered shorts at 1.0420. Expecting prices to fall to the 100% zone of 1.02535.
Comment:
Take profit reached. On first trade lost 40 pips and second trade made 167 pips so netted 127 pips
