We have the following factors:
We should wait for a clear breakout of the falling wedge + Good price action confirmation. Otherwise I wouldn't advice taking this trade!
If so, then adjust your SL since we may expect a pullback.
Once all of this is accomplished, we may expect a very long uptrend, you may target to the recent swing high (green rectangle) or seek for additional entries until the market shows the trend is over and you may trail your SL.
All comments are appreciated and welcome!
Peace!
- Falling Wedge
- Monthly Support (Purple rectangle)
- Divergence
- Different Timeframe bias
- DXY Testing weekly resistance
We should wait for a clear breakout of the falling wedge + Good price action confirmation. Otherwise I wouldn't advice taking this trade!
If so, then adjust your SL since we may expect a pullback.
Once all of this is accomplished, we may expect a very long uptrend, you may target to the recent swing high (green rectangle) or seek for additional entries until the market shows the trend is over and you may trail your SL.
All comments are appreciated and welcome!
Peace!
Trade closed: target reached:
Target hit! you may close or you may trail your SL until trend is over. it seems trend will most likely continue upwards!