Price needs to get there today, otherwise I'm not interested in selling it.
We have an old level with 50% fib on it + price would be past D1 ATR.
Trade active
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Order filled
Comment
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I will bail on this trade if we get a close above 2.03532. It should move lower relatively quickly and therefore I'm out at first sign of trouble.
Trade closed manually
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Closed out for a profit of 3.2R / 253 pipsas i do not want to hold over the weekend.
Comments
earthkamol
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Thx for your great analysis ^_^
Red_Carpet
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wow
Gustav.Mejlvang
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Based on the daily close, I have decided to revise my target for a bigger one. I do think this pair can make a decent retracement before we see more upside. I am now looking to target 1.98913. There are several trouble areas, and I will keep an eye on them and trail my stop down as we break them.
However, I do think price will retrace a bit during the asian session and maybe early London session.. So my stop will not be moved until we see further downside movement.
Trade safe, ledges!
Gustav.Mejlvang
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Stop moved to 2.02106. Looking to add to my position at around 2.01582 if we can break a little further down and then re-test the old support.
earthkamol
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It already hits 2.03500, is it time for SHORT ?
Gustav.Mejlvang
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Yes mate. Balls deep short
earthkamol
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Thx mate. We are in the same boat. LOL
ibnu
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how deep will you keep the short mate? to the 38.2 fibs (1.985) ?
Gustav.Mejlvang
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Depending on the close tonight I might revise the target for a bigger one. Look at the D1. Price is very stretched and has had an insane run up last couple of weeks. This could retrace quite a bit. Will update in case I revise the target.
ibnu
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Agreed, this pair is rocketed up for the last 5 weeks without a single retrace, thus breaks the weekly down trend.
This pair might make a deep correction before continuing the break.
Looking forward the update mate, thanks.