Price dropped sharply after finding strong resistance at the sliding parallel of the blue downsloping pitchfork and is now testing the lower parallel of the modified schiff fork actingas support. In case price breaks below it, going short is a very nice idea.
Trade active:
Price broke below the parallel.. We may go short now
Comment:
Price is heading towards our initial tp. Moving our stops at BE is a nice idea to eliminate our risk. Another option would be to close half of your position securing a decent profit. Sooner or later price will reach our tp for a successful trade
Trade closed: target reached:
Price reached our initial tp giving us around 90 pips profit (depending each one's entry level)
