Look at those green rockets, and this beautiful pattern formed right under my nose yesterday and so last night, I waited for a pullback and got in just after the break of the baseline, head to baseline is 150.6, so the target is 0.77191 which happens to be our next major area of FIB resistence, I love how that happens. This is not as strong as the Aussie / Yen pattern linked below, but with the right US numbers today, this is going NORTH FAST!
Comment
⋅
We're now moving sideways in this channel and may move down to 50% of the previous move up, the previous low of the channel where I'm expecting buyers to enter the market and help push this pair high and use the high of the channel as support onto the next level.
Comment
⋅
It's looking like we're going to pull back to @0.756
Comment
⋅
We have reducing volume on a long wick on the candle forming on 4h
Comment
⋅
As expected, price has broken out of the channel and moved to the downside, opportunity to get in on this trade on a pullback at the various support levels below
Trade closed: target reached
⋅
My first target reached it's objective, the second portion of my profit hit broke even on the pullback, trade is now closed.
@Buckz, I was short 4 days ago lol .... Damn DXY hitting it's resistance levels, sometimes I surprise myself with my poor entries ha ha
Rawilsonwriter
⋅
Thanks so much for the wonderful analysis. If one were to get in to this trade, at which price would he do so? You mentioned maybe wait until it hits 50% of the previous low, so that would be?
CBMotivation
⋅
@Rawilsonwriter, It's all written on the chart, look at the levels, I drew a channel, can you see it?
Rawilsonwriter
⋅
@CBMotivation, I think I do. lol. That's why I asked. I'm thinking .75950?
CBMotivation
⋅
@Rawilsonwriter, You really shouldn't trade if you can't read that chart, you're just gambling and hoping I'm right. Right now I wouldn't enter a long trade, it's too high. Wait for a pullback