When we look at the chart we can see that the price reversed at the 0,618 level of the Fibb. We can see that this also happend in the past so we could say that it is forming a support zone. If we get to see a clear break of the falling wedge than we could consider to enter this trade. Keep in mind that all trades are tricky becuase it is NFP week!
Please let me know in the comments what you think of the idea and feel free to share your idea also. If you like the idea, do not forget to give it a like then. If you have any questions feel free to PM me.
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Going to change it a little because the price went down below the support zone. Still looking for a buy NOTICE: Trade isn't active yet. Still looking for confirmation.
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I won't be activating this trade for now because we got the NFP's today so if the market is still good on monday I will get into this trade on monday.
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Trade is running in good profit. To bad that I am not in because it was already to far away this morning to enter the trade. If we get a retest of the buy zone I would be interested in buying if the market is still good for it. If you are in the trade I would move your stop loss to break even and just let it run.
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We got a good rejection from the 126.46 level where out initial entry was. I went long on that rejection and running in profit now. Will keep you updated when something changes.
i like your idea but i dont understand its concept,is it going for a buy?
MaBaCapital2
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@Brandon1831, Yes it is for a buy signal but I am going to chance it a little. The price went down but I wasn't in because I didn't got my confirmation I was looking for. I am still looking for a buy now but with a lower enter.