Looking for a continuation of the breakout yesterday of the descending triangular pattern.
Price is simply retracing at this current time.
0.382 is at the neutral pivot.
0.5 is slightly below.
Look to enter a long after a BULLISH candle has formed at either fib level. You may also want to wait for some momentum to build as at the time of this post, it is still very early in the morning.
Indicators that can be used to gauge momentum: Histogram (30 min) or Heikin Ashi (5 min)
Smaller lot size is required at this time of day...
Price is simply retracing at this current time.
0.382 is at the neutral pivot.
0.5 is slightly below.
Look to enter a long after a BULLISH candle has formed at either fib level. You may also want to wait for some momentum to build as at the time of this post, it is still very early in the morning.
Indicators that can be used to gauge momentum: Histogram (30 min) or Heikin Ashi (5 min)
Smaller lot size is required at this time of day...
Trade closed: target reached:
Chose to take my TP slightly before R1 to catch the move.
You can move your SL to break even if you are still in the trade, as it still has a good chance of wicking R1.
You can move your SL to break even if you are still in the trade, as it still has a good chance of wicking R1.
Trade closed: target reached:
R1 has now been hit.