Price broke below the corrective structure it was moving in, making us look closer for a sell setup completion. Most likely it will retrace to test the downslope median line at the same level of the broken support of the correction.
Like and follow for updates.. :)
Trade active
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Comment
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The chart that i post with the setup is a little messy, so i redraw it, so to be more clear
VERY NEAT! :) thanks for sharing, I am in for this trade..
Fxprotrader
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Ok, good luck..
fxfxfx
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closed manually, want to wait and see what happens at 78.15 :)
arshadd
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Dear how to draw these central 2 lines?? What are these 2lines, please elaborate.
Fxprotrader
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If you talk about the purple ones, these are slide parallels of the median line. If you talk about the dashed black ones, these represent a corrective pattern ( a channel in this situation)
arshadd
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Yes dear talking about median line and its parallel line... How to draw this median line , what is the refrence to draw this median line... Please don't mind if this question seems to be silly.. Because of my lack of knowledge..
Thank u for replying.
Fxprotrader
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It's a little difficult to explain you how to use median lines in a comment.. The basic idea is to identify price slope and trade with it..