Please see related idea for more insight. Many pips made so far with these moves recently.
This is what I like to call a triple whammy.
1) The gap must be filled
2) Retrace is due.
3) Previous support should be tested as resistance.
The combination of these factors allows us a better understanding of WHEN the price is likely to reach our target. Which makes it easier to know when the exit (/look for re-entry) if the trade is not going to plan.
As always, trade safe and have a properly thought out exit strategy to minimize losses.
This is what I like to call a triple whammy.
1) The gap must be filled
2) Retrace is due.
3) Previous support should be tested as resistance.
The combination of these factors allows us a better understanding of WHEN the price is likely to reach our target. Which makes it easier to know when the exit (/look for re-entry) if the trade is not going to plan.
As always, trade safe and have a properly thought out exit strategy to minimize losses.
