As one of my clients showed me yesterday there was a chance to get involved in the initial break of support & retest yesterday, but with us being in a heavily on the higher time frames, I wanted to make sure that this wasn’t just a simple retracement of the bigger move. Now don’t get me wrong, this particular setup can easily be a complex pullback as well, but I do have a much better potential risk to reward setting up here if I can play my cards right.
The presence of a new 3-legged formation (SP-ISH-OR-NSL) gives me a little more confidence but I still want to be cautious and look for the right reason for entry. If we do continue , I’m not expecting a full reversal, but with the trend looking as if it’s running out of steam on the daily, we may be in for a deeper retracement. See many of you in the Live Trading Room!
Do me a favor, if you actually read the write ups that go along with my charts please let me know by either giving the like button a hit or leaving a comment beneath. I always want to be as efficient as possible with my time so I want to get an idea of who’s reading and who’s not.
Chief Currency Analyst
Akil@Tradeempowered.com /@AkilStokesRTM /
Forex Weekend Review Videos:
Sign Up For My FREE Weekly Trading Video -
Watch Our FREE Training Lessons & Workshops