After winning 115 pips last week we are now at my support line which is usually where the magic happens. We are seeing a great test of support. We hit it 3 times so I am preparing for a buy. It may dip lower but like I said I am waiting for a break and retest. This could be a 100 pip win for us. I put a maroon trendline and if it breaks it with a lot of volume or bullish engulfing candle I will get into a buy trade.
If you won last week and the week before that from my analysis please support me by liking this post.
If you won last week and the week before that from my analysis please support me by liking this post.
Comment:
Price broke through support but was caught by the trend line. At this moment we need it to push back to the support level to even consider a buy. We could see momentum to the downside if it breaks the trend line. This is why we need multiple confluences to enter a trade. I haven’t totally considered this idea to be invalid but we could still see a rally up. Only time will tell as we continue waiting.
Comment:
Comment:
Trade is invalid now due to the momentum downward.