...decison of PBOC not to increase interest rates and...
...additional US import tariffs on Chinese gods (USD 50bn); TBC
Trade range within the existing triangle
Keep an eye on the trade volumes (support gets lower around 12,050); would not expect an immediate break of the support, but the probability is increasing
SL/TP won´t be shared for this trade (but should be obvious)
Trade will be triggered after confirmation of the import tariffs
This is not an advice it is only my personal opinion.
Trade active
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We broke the 1H support line
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Today: Dragon Boat day in China, hence bank holiday.
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240 pips/points so far. Do not forget that the SE is not a one way. You might take some profit or you are more ambitious and see what will happen during the EU session. For me, I secure some points. As Always, it is about Timing and Trump (who just announced additional trade trariffs on good worth USD 200bn of 10%).
Trade closed: target reached
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I am closing the trade since I have already sold 70% of my position. Nevertheless, I move SL to BE and see if the remaining position it going to hit the support zone. I hope you enjoyed the trade, let´s find the next opportunity… If we make it to the support zone I immediately sell additional 15% and keep 15% in order to see if we are going to break the support zone.
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I sold the remaining 15% @ support line; hence 340 pips/points. I keep the remaining 15% and won´t update the trade anymore.
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Bam… additional 250 pips/points on the remaining position. Sold the last 15%... I will wait for Thuesday/Wednesday and decide if I see a possibility to re-enter