Potential 2168 trade......double top confirming indicating reversal, downtrend confirmation came with three 4 hour bars downward after the second retest. I expect the price to hit .618 retrace with an entry of 115.820. Previous resistance could become support at 114.172. SL is 70 pips higher than the previous highs to prevent stop hunting. Positive risk reward......I will take this trade should the .618 retrace come to fruition.
Trade active:
Changed my entry to 115.782 due to some immense downward pressure coming ahead ahead of economic news this week. Trade went active about midnight today. I'll be watching this closely for a quick exit to protect profits. So far, so good.
Trade closed: target reached:
Target was moved up to 114.600 ahead of a possible retrace and 3 hour long candles failing to close below 114.900. Protected profits. Will re-enter if down trend continues around 114.525
Comment:
Trade went active again at 114.525 with my original target of 114.172 being hit. Trade is closed. Good pips on this one.