Managed to catch that ABCD trade this morning and I'm now watching over 2 possible setups. If price reach 0.8742 it will complete another ABCD at todays key resistance. It's my best setup for a trade back down and retest the double bottom support where I would love to take a long entry if a proper structure forms. However on the 4hr chart price has bounced off from an important key level at 0.86872 indicating a rally back up to retest >0.8780? Right now I'm stuck with a short trade taken from 0.8728 which I'm not surprised if stopped out. Price missed target 1 by 1pip.. If ABCD fails to hold at 0.87423 then the rally is confirmed for today and I will have to back off and come back tomorrow.
Would love to have more trades like this... Waking up this morning to see all targets hit
From the sell entry at 0.8725 to target 1 at 0.87080 that's 17 pips, to target 2 at 0.86878 that's another 37 pips and take profit target at 0.86750 for 50 pips for a total of 105 pips to start the day. We did see price action at key support but not much strength. To be more precise
price dipped another 50 pips and I managed to catch 50% of that wave. Looking at the 4hr chart price has broken the mid trend line and looks to me it wants to retest next key support around 0.8600. I am looking for sell structures inline to that direction.
From the sell entry at 0.8725 to target 1 at 0.87080 that's 17 pips, to target 2 at 0.86878 that's another 37 pips and take profit target at 0.86750 for 50 pips for a total of 105 pips to start the day. We did see price action at key support but not much strength. To be more precise
price dipped another 50 pips and I managed to catch 50% of that wave. Looking at the 4hr chart price has broken the mid trend line and looks to me it wants to retest next key support around 0.8600. I am looking for sell structures inline to that direction.