UPDATE: Previous post part of a much BIGGER MOVE
Earlier i did an analysis on a new trading strategy i wanted to try out.
The previous post was for a short term sell opportunity, that i now believe is a part of a much larger bull trend.
This doesnt mean i was wrong earlier. I believe there could be an opportunity to take advantage of the period of consolidation where the market trades within this triangle pattern. We can see that there has been a retracement in the initial bull trend to the 50% fib level
Once the market breaks out of the 1.373 level we could see a continuation of the bull trend.
I AM NOT AN EXPERT TRADE AT YOUR OWN RISK.
The previous post was for a short term sell opportunity, that i now believe is a part of a much larger bull trend.
This doesnt mean i was wrong earlier. I believe there could be an opportunity to take advantage of the period of consolidation where the market trades within this triangle pattern. We can see that there has been a retracement in the initial bull trend to the 50% fib level
Once the market breaks out of the 1.373 level we could see a continuation of the bull trend.
I AM NOT AN EXPERT TRADE AT YOUR OWN RISK.
Trade closed manually