I have a long BIAS on this pair and am already long on a trend continuation trade since last week and we are presented here with a couple new opportunities to hope on the bullish trend (and in my case add to my position)
There is room for a couple hundreds pips of profits to retest of the highs on the daily but expecting resistance from 0,7590 area all the way up to 0,7760.
We are being presented with a bullish BAT and a bullish Cypher. Depending on your rules, you could either take one of those (or both) as entry for a Trend Continuation Trade for a longer term move, or aim for conventional targets.
Because both patterns have the same X leg I'm forced to take the first one that present itself and that is the Cypher which I will take and aim for conventional targets (My plan does not allow me to take Cyphers as entry for a TCT because I haven't tested it yet).
Seeing that price has pushed down towards entry overnight, I just placed order hoping for price to push back down a bit and be able to get involved. Now let's wait and see !
There is room for a couple hundreds pips of profits to retest of the highs on the daily but expecting resistance from 0,7590 area all the way up to 0,7760.
We are being presented with a bullish BAT and a bullish Cypher. Depending on your rules, you could either take one of those (or both) as entry for a Trend Continuation Trade for a longer term move, or aim for conventional targets.
Because both patterns have the same X leg I'm forced to take the first one that present itself and that is the Cypher which I will take and aim for conventional targets (My plan does not allow me to take Cyphers as entry for a TCT because I haven't tested it yet).
Seeing that price has pushed down towards entry overnight, I just placed order hoping for price to push back down a bit and be able to get involved. Now let's wait and see !
Trade active
Comment:
Been filled the Cypher for conventional targets (38.2 & 61.8)
Trade closed: stop reached:
Price came 0,6 pips from T1 so rolled stop to BE and got kicked out now
BE trade
BE trade
Comment:
Well, depending on your rules you might had been stopped at BE or got a 2 targets winner.
Personally got stopped at BE, frustrating but got to follow the rules, AT ALL COST !
Personally got stopped at BE, frustrating but got to follow the rules, AT ALL COST !