There are several confluences for this trade which are shown in the chart. I think this is a worthwhile opportunity but since I missed the ideal entry here I am going to be patient and watch for a better entry. I will post an update when/if I have entered.
This is not meant to be a trading signal so please do not use it as one -- I still have very much to learn as a trader and none of my ideas are trading advice. That said I always appreciate any comments and feedback on my charts and ideas!
This is not meant to be a trading signal so please do not use it as one -- I still have very much to learn as a trader and none of my ideas are trading advice. That said I always appreciate any comments and feedback on my charts and ideas!
Comment:
Comment:
Comment:
I will take at least half profit at 101.90 and consider reversing positions based on price action
I will take at least half profit at 101.90 and consider reversing positions based on price action
Trade active:
Price never made it to my TP1 at 101.90 and so was stopped at breakeven. It seems DXY has found some support here -- 1 pip above the 1.618! So awesome.
That said I am entering a DXY long as shown in the chart in the update above. Good luck!
Price never made it to my TP1 at 101.90 and so was stopped at breakeven. It seems DXY has found some support here -- 1 pip above the 1.618! So awesome.
That said I am entering a DXY long as shown in the chart in the update above. Good luck!
Comment:
Moved stops 2 pips below breakeven as shown in the chart above
Moved stops 2 pips below breakeven as shown in the chart above
Comment:
Stops are now 2 pips above breakeven -- watch price action in the rectangle illustrated in the above update
Stops are now 2 pips above breakeven -- watch price action in the rectangle illustrated in the above update
