Upward expanding channel created yesterday- these always break-out to the downside.
3 touches on top of channel- indicating we should be looking for the sell-off out of this channel (Look at the rejection of that 3rd touch!!!)
Followed by a weak impulse with a 38.2% pullback- meaning we require another 61.8% upward to fill 100% of the buy orders before sell-off. (this is a move used to play on human emotion, take out sellers SL's and get more buyers in the market)
2 entries on chart.
1st is an early entry in case sellers are too strong to fill 100%
2nd is the ideal sniper entry point to catch max pips.
You can enter now if you're willing to risk just over 30 pips. But rather be safe than sorry and wait for it. (If you miss it, there's always another opportunity
For more analysis like this, hit the like and follow buttons.
Remember to use effective Risk Management!!!
Safe Trading!!!
3 touches on top of channel- indicating we should be looking for the sell-off out of this channel (Look at the rejection of that 3rd touch!!!)
Followed by a weak impulse with a 38.2% pullback- meaning we require another 61.8% upward to fill 100% of the buy orders before sell-off. (this is a move used to play on human emotion, take out sellers SL's and get more buyers in the market)
2 entries on chart.
1st is an early entry in case sellers are too strong to fill 100%
2nd is the ideal sniper entry point to catch max pips.
You can enter now if you're willing to risk just over 30 pips. But rather be safe than sorry and wait for it. (If you miss it, there's always another opportunity
For more analysis like this, hit the like and follow buttons.
Remember to use effective Risk Management!!!
Safe Trading!!!
