The pair has created a nice descending channel, and in the process creating a double bottom, or as some would call it, "W"-in-the-making. Buy stop can be used to enter, or waiting for further confirmation in the lower time frame before entering a market entry.
DISCLAIMER;
This is for educational purposes only and NOT investment advise. Trading in foreign exchange (“Forex”) on margins entails high risk and is not suitable for all investors. Past performance is not an indication of future result.
DISCLAIMER;
This is for educational purposes only and NOT investment advise. Trading in foreign exchange (“Forex”) on margins entails high risk and is not suitable for all investors. Past performance is not an indication of future result.
Comment:
Market took me out after a BUY STOP entry, I am still watching this pair though as the correction may take longer than initially expected, but that's how the market is, PROBABILITIES and POSSIBILITIES. If the market invalidates my analysis, i will move on to other pairs
