This pair has been making clear moves which could have been caught using simple trendlines, patterns and area of interest. We are now approaching the support of the descending wedge.
A typical descending wedge usually ends up with the price impulsing up aggressively. We may see that with this pair. See chart below for smaller timeframe.
Be sure to give a thumbs up if you like this idea!
Touch the trendline just. When you say bounce, 1 big green candle or 2 green candles? or wait for it to cross the upper trendline?
WicktatorFX
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@MasterSaps, safest entry would be the break of the wedge and a retest. That’s what I’m looking for! Not trying to catch the very start of the move. What are you looking to do?
MasterSaps
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I am tempted to go in at the start with a tight stop loss....so a bit risky but I am already way down and want the recovery. but as of now its not looking like it wants to go up! would have loved to be on the right side of the trade.
WicktatorFX
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@MasterSaps, message me tomorrow, I’ll send you something which may help find out where may reverse! How much are you down by? DM me
Karsventure1
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beautiful trade idea
Mihai_Iacob
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I m waiting and waiting for this reversal:)
Thanks for sharing