Price has made it all the way back up to the top of the daily corrective structure. For now I anticipate this structure to hold.
I used a parabolic exhaustion move into the 1.45100 level to enter my trade. Will take first profit rather quickly and move my stop down to 1.45150 if this rejection looks healthy.
Final target will be at the bottom of the corrective structure.
Comment
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First profit taken (trade funded) at 1.4480. Stop moved to break even. Since the market is pretty thin around Christmans/New Year I am playing this one with extra tight risk management.
Trade closed manually
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Remaining position stopped out at break even.
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If price closes above 1.4540 on a daily basis I will change my mid term bias from short to long. on this pair.