Interesting opportunity on FX:EURUSD 0.20% This pair has been so profitable for me so far BUT !TRADE WITH CAUTION!
GAME PLAN #1: If the bull BAT pattern works out as per theory and price fails to break and close below 1.16650, we can start to consider going long with targets at 1.18587 and 1.2000. And of course if the Rocket-man saga worsens, then we simply trail stops and enjoy the ride :)
GAME PLAN #2: Well NFP failed to break and close below 1.16650 respecting the bull bat . but my RSI reading confirms a down trend! I trust my RSI quite a lot so I will certainly consider a short opportunity especially if the Rocket-man saga cools off and the dollar gains power to break and close below 1.16650. As always, we wait for a pullback and at a good RSI reading and jump in like a boss. :)
!!Remember the rule, only risk 2% of your capital unless you are ready to go back and leave with your parents!!
@davidlondono9, Thats because the setup is a Bullish bat pattern but the overall trend confirmed by my RSI reading is downward. Which is why i have a short-term buy trade as i waif for my entry requirements for a short position to be met.