Well i can see price has retraced but close to the high/ resistance.
-We have found support at around 1.08177.
-I think of the pattern as a bear trap for price to shoot up. Placing my stop at 1.08166 and tp 1at 1.08475.
-We can also see that a large number of retail traders are short; Retail traders are known to be countertrading most of the time.
-lets see how it goes.
-We have found support at around 1.08177.
-I think of the pattern as a bear trap for price to shoot up. Placing my stop at 1.08166 and tp 1at 1.08475.
-We can also see that a large number of retail traders are short; Retail traders are known to be countertrading most of the time.
-lets see how it goes.
Comment:
Take profit 1 hit.