Please see above analysis on Eur/Usd.
There is two ways that we can play this trade out.
a) Upon breaking trend on this impulsive leg we could wait for a retest and look for an entry to finish the correction off.
b) We can play it safe and wait for the market to break our resistance at 1.137 ish and ride the correction back u to 1.153 zone.
Option A is more of a risk entry and option B would be a nice safe entry with a higher probability of success.
Let me know in the comments below your thoughts on this pair and which direction your trading.
The Fx Chartist
There is two ways that we can play this trade out.
a) Upon breaking trend on this impulsive leg we could wait for a retest and look for an entry to finish the correction off.
b) We can play it safe and wait for the market to break our resistance at 1.137 ish and ride the correction back u to 1.153 zone.
Option A is more of a risk entry and option B would be a nice safe entry with a higher probability of success.
Let me know in the comments below your thoughts on this pair and which direction your trading.
The Fx Chartist
Order cancelled:
No trade as entry requirement not met.
The Fx Chartist
The Fx Chartist