Our preference for this trade setup is short!
The break out of the 1st pattern 0.9408 contributed a very nice selloff to 0.91513.
We have now seen price once again in this area of interest, another important criteria is the presence of 200SMA on the scene.
Traders will always do the same thing everytime, in this case We are going short at the break of 0.94080. Alternatively a break upside the box and the 200SMA, will give us a nice move up towards the 0.96620.
SHORT: 0.94080
STOP:0.95100
TARGETS: T1=0.92442 T2=0.91513
GLT
For more trading updates and information follow @charts_247 on twitter
The break out of the 1st pattern 0.9408 contributed a very nice selloff to 0.91513.
We have now seen price once again in this area of interest, another important criteria is the presence of 200SMA on the scene.
Traders will always do the same thing everytime, in this case We are going short at the break of 0.94080. Alternatively a break upside the box and the 200SMA, will give us a nice move up towards the 0.96620.
SHORT: 0.94080
STOP:0.95100
TARGETS: T1=0.92442 T2=0.91513
GLT
For more trading updates and information follow @charts_247 on twitter