It looks like we're in a first up correction of a possible starting downtrend so I'm biassed SHORT.
I'm looking for a good entry to get short and will probably sell a confirmed breakout of the up trendline of the current corrective up move. In case I miss it I will have a short order ready as in the chart (left 2 trades). SL above the 50% ret. of the last big move down.
If we complete the bearish bat I will short there, 2 trades as in the chart, SL above X, targets above previous structure and end of a possible AB=CD pattern.
In case we go down from here and don't complete the bat I will be looking for a long trade based on completion of a possible harmonic pattern lower down (middle 2 trades on the chart), SL below where the pattern could end, targets at previous structure.
I'm looking for a good entry to get short and will probably sell a confirmed breakout of the up trendline of the current corrective up move. In case I miss it I will have a short order ready as in the chart (left 2 trades). SL above the 50% ret. of the last big move down.
If we complete the bearish bat I will short there, 2 trades as in the chart, SL above X, targets above previous structure and end of a possible AB=CD pattern.
In case we go down from here and don't complete the bat I will be looking for a long trade based on completion of a possible harmonic pattern lower down (middle 2 trades on the chart), SL below where the pattern could end, targets at previous structure.
Trade active:
Long!
Closed my shorts, now long from 2.1509 and added at 2.1802, let's see if we continue up...
1st long target @ around 2.24
2nd long target around 2.265 if we get past 2.25...
Closed my shorts, now long from 2.1509 and added at 2.1802, let's see if we continue up...
1st long target @ around 2.24
2nd long target around 2.265 if we get past 2.25...
