UPDATE: We never got a good retest of the wedge pattern, did NOT got involved in this trade.
Hello Traders,
The market has broken the wedge pattern that was formed earlier. Wait for a retest of the wedge before shorting this pair. Keep in mind that FOMC is coming today at 2 pm. If we are unable to get a retest of the wedge pattern BEFORE the FOMC, than I will NOT be shorting this pair. If the market reaches 90% of the target WITHOUT triggering entry, then I will NOT trade this setup. Better to stay out of the market during this high volatility event. Our FIRST main job as traders is to protect our CAPITAL, making money comes AFTER that. See the chart for more details.
Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
Hello Traders,
The market has broken the wedge pattern that was formed earlier. Wait for a retest of the wedge before shorting this pair. Keep in mind that FOMC is coming today at 2 pm. If we are unable to get a retest of the wedge pattern BEFORE the FOMC, than I will NOT be shorting this pair. If the market reaches 90% of the target WITHOUT triggering entry, then I will NOT trade this setup. Better to stay out of the market during this high volatility event. Our FIRST main job as traders is to protect our CAPITAL, making money comes AFTER that. See the chart for more details.
Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)