Rising wedge forming on EGLD, reaching and rejecting the $60 psychological resistance.
We are looking for a small short position at 60 with wide SL, adding up during pre-FOMC volatility and adjusting SL as price reach the wedge support. looking to add up to the position after a close bellow the wedge.
trigger:$60
entry1: $60
entry2: bellow wedge
target1: $53,45
target2: $50,50
SL: $62,55
Will not rush on this trade, this week price action is beyond technicals.
We are looking for a small short position at 60 with wide SL, adding up during pre-FOMC volatility and adjusting SL as price reach the wedge support. looking to add up to the position after a close bellow the wedge.
trigger:$60
entry1: $60
entry2: bellow wedge
target1: $53,45
target2: $50,50
SL: $62,55
Will not rush on this trade, this week price action is beyond technicals.
Trade active:
trade is active now, manage SL before FOMC.
if 0,5 is announced close inmediatelly
if press conference hints pivot/dovish set SL at entry
good luck!
if 0,5 is announced close inmediatelly
if press conference hints pivot/dovish set SL at entry
good luck!
Comment:
crazy volatility as expected, I hope your SL was set wide enough. If not, you can reenter the trade near $61.5 with tight SL, again, SMALL position. The real move starts on the break of the diagonal support.
Comment:
1st target hit
Comment:
2nd target hit, big profits!
Trade closed: target reached:
can close trade here, no point on waiting for 0,25 more