I am Long this trade from 1.21704 took off 50% after 10 pips. Sl still at 1.21471 below 50% retracement of the "red extension" from 1-1.
The price is at a lot of levels Fibonacci wise and could possibly be a flat abc move on the 4 hour chart the 1 hour chart also showed divergence on rsi with the 15 min rsi oversold at these levels which led to the buy trade.
On the 15 min chart there was also a nice 3 wave move down to these level which ended at 76.4% fib extension.
I will see what the market does on Sunday night and possibly move to break even.
For disclosure I am only trading a micro account but teaching myself restraint to only enter when I see the right things. I still have to be at the right place and even more so once the lot sizes grow.
I will try to add a screen shot from ctrader if possible in the updates part.
The price is at a lot of levels Fibonacci wise and could possibly be a flat abc move on the 4 hour chart the 1 hour chart also showed divergence on rsi with the 15 min rsi oversold at these levels which led to the buy trade.
On the 15 min chart there was also a nice 3 wave move down to these level which ended at 76.4% fib extension.
I will see what the market does on Sunday night and possibly move to break even.
For disclosure I am only trading a micro account but teaching myself restraint to only enter when I see the right things. I still have to be at the right place and even more so once the lot sizes grow.
I will try to add a screen shot from ctrader if possible in the updates part.
Comment:
icmarketssc.ctrader....es/screens/lQs2n.png