Update: Cancelled trade.
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The price hit near term support at 98.10, where some new bullish pressures where seen, i am looking for a potential attempt to resume the bullish wave as long as 98.00-98.10 is holding. Watch for a break below that level as it may signal a deeper bearish correction.
**Position: Pending Buy limit at 98.30, target one at 99.30, target two at 99.70. Stop loss at 97.75.
Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
1) If 90 percent of first target is reached I move stop loss to breakeven.
2) If 90 percent of first target is reached without triggering entry I cancel the trade.
3) Remember: Losing is a main part of the game
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The price hit near term support at 98.10, where some new bullish pressures where seen, i am looking for a potential attempt to resume the bullish wave as long as 98.00-98.10 is holding. Watch for a break below that level as it may signal a deeper bearish correction.
**Position: Pending Buy limit at 98.30, target one at 99.30, target two at 99.70. Stop loss at 97.75.
Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
1) If 90 percent of first target is reached I move stop loss to breakeven.
2) If 90 percent of first target is reached without triggering entry I cancel the trade.
3) Remember: Losing is a main part of the game