The weekly candle closed bullish; nullifying potential sell from last week but one. We here head to another week with the weekly trend printing bullish. If we zoom in to the daily candle, the general trend is still bullish. We however have Friday's candle print bearish and here is my approach;
Friday candle could be a liquidity candle. At this point we wait to see how Monday's candle will print. If a bullish candle print on Monday we could place a buy stop above the last bullish candle as shown in the chart the ride it to the next resistance level at 1.05800s
@InvestMate, Sure! From my analysis the inverse is also true. That's why i recommend using stop orders instead of direct execution. If Monday's candle print bullish, we going up. We could also place a sell stop some few pips below Friday's candle then wait for the ride down
VasilyTrader
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Cheers, bro!
JoeChampion
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Makes sense, especially when it comes to USD weakness!