I HAVE DRAWN FEW LINES, HOW I PERSONALLY FEEL THIS PAIR WILL REACT.
IT HAS ALREADY HIT A 3 WEEK LOW, IT MIGHT GET LITTLE BIT LOWER THEN RETRACE.
IF BY MONDAY THE PAIR STARTS RETRACING, I WILL GO LONG.
WE WILL LOOK AT A SHORTER TIME FRAME TO SET OUR TRADE.
I will wait for a retracement to around the 1.09000 level and open a long position.
first target will be TP at 1.09600
I will wait for a retracement and retest to re-enter a long position.
If the support shown is broken, I will look for a short position.
SL:1.09200 & TP 1 :1.10200 & TP 2: 1.10500
TP 1 reached.
Now I will move my stops to breakeven and wait for the second target.
Now time to wait for the market to finish this move up, retrace and then rally 1 more time up. Please note that I am putting all these trades on this same page because the bigger picture is shown above on the daily chart. I am just showing how to break down this big move to benefit the most from it.
Of course the easiest way was to trail your stop with each new support on the way up. but the way i traded it so far, it was much more profitable.
Now it time to wait for the market to turn and we will look for a short position soon.