Hi everyone, I am way too tired to make a full blog post, but I see some opportunities in this pair. Right now I think it is going down, but I can see that in the longterm it is heading back up, and I will make the full post once I feel well enough to give you all an accurate reading, but for now take this small setup.
Macd on the 15 minute has crossed and appears to be moving towards the negative.
15 minute RSI is bearishly diverging.
Target 1: 10.11016
Stop loss:10.14427
TLDR, we have finished a wave one of a greater move upwards, and I am expecting a deep wave 2 retracement. Around the golden pocket, which is 0.618-0.65, but maybe even to the 0.8. 0.8 is too aggressive for myself, but aim for it if you want. Another target is the base channel of the larger cycle, but I'll talk about it when I make a full post.
Anyway, I'll hopefully talk to you guys sometime tomorrow.
Macd on the 15 minute has crossed and appears to be moving towards the negative.
15 minute RSI is bearishly diverging.
Target 1: 10.11016
Stop loss:10.14427
TLDR, we have finished a wave one of a greater move upwards, and I am expecting a deep wave 2 retracement. Around the golden pocket, which is 0.618-0.65, but maybe even to the 0.8. 0.8 is too aggressive for myself, but aim for it if you want. Another target is the base channel of the larger cycle, but I'll talk about it when I make a full post.
Anyway, I'll hopefully talk to you guys sometime tomorrow.
Comment:
I hope you guys were able to catch the reentry after the stop loss was hit. I was at work and was not able to watch this pair, but understood what I was talking about in this post, you are probably leaving with a great profit.