Hi Team,
As predicted from a couple of weeks ago (See link chart for details) we are now entering a short counter-trend period on this pair before looking for major bullish movement in a couple of weeks
Now that we have nice confirmations, namely rejection of major structure, break of major corrective trend line, and new short time frame pair pennant formation, we are setting up very nicely for a re-entry.
If you haven’t been in this pair yet, this is probably the safest entry.
It is worth taking a look at the other chart to understand take the profit level and why I have chosen it.
I would advise waiting for markets to settle for a few hours before entry – if that means we lose a few pips then so be it, but we should never jump into things on impulse.
Remember – the only way to be successful is to manage your risk, and remove emotion from the equation.
Good luck, and as ever, trade safe!
DrBear
As predicted from a couple of weeks ago (See link chart for details) we are now entering a short counter-trend period on this pair before looking for major bullish movement in a couple of weeks
Now that we have nice confirmations, namely rejection of major structure, break of major corrective trend line, and new short time frame pair pennant formation, we are setting up very nicely for a re-entry.
If you haven’t been in this pair yet, this is probably the safest entry.
It is worth taking a look at the other chart to understand take the profit level and why I have chosen it.
I would advise waiting for markets to settle for a few hours before entry – if that means we lose a few pips then so be it, but we should never jump into things on impulse.
Remember – the only way to be successful is to manage your risk, and remove emotion from the equation.
Good luck, and as ever, trade safe!
DrBear
Trade closed: target reached
