Three reasons to go long in this chart:
- 61.8% retracement of latest leg up (blue)
- Support/Resistance level (yellow)
- RSI divergence.
T1 is at the 38% retracement of latest leg down (red) where there's also a support/resistance level (yellow).
T2 is at the 78 % retracement of latest leg down (red) where there's also the 11.4/88.6% distance of the leg up (blue)
T3 is at 27% extension of the latest leg up (blue) and the psychological level of 0.80000
- 61.8% retracement of latest leg up (blue)
- Support/Resistance level (yellow)
- RSI divergence.
T1 is at the 38% retracement of latest leg down (red) where there's also a support/resistance level (yellow).
T2 is at the 78 % retracement of latest leg down (red) where there's also the 11.4/88.6% distance of the leg up (blue)
T3 is at 27% extension of the latest leg up (blue) and the psychological level of 0.80000
Comment:
T1 got hit. We closed 1/3 of our position and moved Stop Loss to 0.78436
Comment:
T2 got hit (we chose the red line). Closed another 1/3 of original position. Stop Loss moved to 0.78829.
Comment:
Locking in 23 pips more profit. SL moved to 0.79050
Comment:
Locking in 15 more pips. SL moved to 0.79200
Trade closed manually:
Took off the last 1/3 of the position at 0.79900 in light of the upcoming NFP news release.