Losing streak: continuation or reversal?
Explanation:
So this is one of my favourite setups to execute because if executed correctly, there is a high chance of a sniper entry with little or no drawdown at all.
The chart speaks to itself; I just identified the potential retail-traders too obvious setup which is a 61,8% third touch and S&R and added my trend lines. Now I'm expecting a stop hunt lower which I'm gonna catch if this idea becomes reality.
Fundamental:
Since both countries have positive outlook and economic data, fundamentals are mixed so my target will be smaller. Most of the idea is based on advanced technical analysis and market sentiment.
So this is one of my favourite setups to execute because if executed correctly, there is a high chance of a sniper entry with little or no drawdown at all.
The chart speaks to itself; I just identified the potential retail-traders too obvious setup which is a 61,8% third touch and S&R and added my trend lines. Now I'm expecting a stop hunt lower which I'm gonna catch if this idea becomes reality.
Fundamental:
Since both countries have positive outlook and economic data, fundamentals are mixed so my target will be smaller. Most of the idea is based on advanced technical analysis and market sentiment.
Order cancelled:
This setup was cancelled due to a considerable reaction slightly above the entry price. I removed my pending order right before the price went lower.