Kept my eye closely on this pair since last year since the price was creeping towards it’s LOWEST levels.
Managed to catch ALL the moves over the space of 3-6months
Flash crash at the start of the year, leading to the divergence with an impulsive move to zone (1.070), which is our TP.
Since then, it’s following a descending channel (flag) which is a continuation price action pattern. \u2028A bullish wave is expected from resistance turned support @ mirror level 1.4150, which is where our SL will be set.
Trade invalidated if it breaks this zone.
SCENARIO:
SL: 1.4150
TP1: 1.070
TP2: OPEN
TARGET: 130 - 500 pips
ESTIMATED TIME: 7-25 days
Managed to catch ALL the moves over the space of 3-6months
Flash crash at the start of the year, leading to the divergence with an impulsive move to zone (1.070), which is our TP.
Since then, it’s following a descending channel (flag) which is a continuation price action pattern. \u2028A bullish wave is expected from resistance turned support @ mirror level 1.4150, which is where our SL will be set.
Trade invalidated if it breaks this zone.
SCENARIO:
SL: 1.4150
TP1: 1.070
TP2: OPEN
TARGET: 130 - 500 pips
ESTIMATED TIME: 7-25 days
Trade active:
Running with profits, move SL to BE for a risk-free trade!
Trade closed manually