Price has gone above Monthly resistance (pink area) and it's still going. Can this be a valid breakout? I will only confirm it when it has retraces twice to the North. Otherwise it can be just another fake breakout.
2 ways to enjoy this breakout:
1) Early entry: put Trend Catcher (TC) order at first retracement
2) Ideal entry: Trend Catcher (TC) order at second retracement.
TC order:
- Stop order 5 pips above last candles high.
- Good For Day order. Re-order on the next open of a new candle.
2 ways to enjoy this breakout:
1) Early entry: put Trend Catcher (TC) order at first retracement
2) Ideal entry: Trend Catcher (TC) order at second retracement.
TC order:
- Stop order 5 pips above last candles high.
- Good For Day order. Re-order on the next open of a new candle.
Comment:
There's a good chance that today might be the day that the price will start retracing to the Daily support. Hang on tight for price action at the Daily support zone.