Looking for 25 pip grab and hoping the PMI news does not disrupt the market too much.
Going purely off the MFI and testing its strength as an indicator.
Trade closed: target reached
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TP 1 Hit perfectly! I matched this trade with #EURUSD too. Ive closed out but interesting to see if we reach the next level at 1.3650, or if we see a bounce at 1.3625.
The idea is that you can manage trades between 25 pip intervals. If the goal is 25 pips you can be in and out by 7am
prime1000
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it's ranging on the 4hr...I don't think it's wise to buy now...just saying...nice analysis by the way.
JamTrades
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@prime1000 hi, yeah I took a look at the daily and 4hour intervals. This was purely to see if the bounce would happen on a key (numeric) level and correlate with the MFI. It did exactly that and also on the euro usd! Very interesting. I will try some more examples later.
ForexTradingRoom
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Good Observation! interesting to see if this is consistent!