A pullback to the support of the ascending trendline may form a swing low at the monthly pivot point. This area is also 0.618 on the fibs. depending on the price action I see my long set up as illustrated in regards to approximate location of the stop loss. Targeting the Monthly R1. The COT shows speculators have added longs on the Kiwi and added more shorts on the Swissie.
If you have any ideas supporting or on the contrary to my opinion please leave a comment.
Thank you and happy trading.
Disclaimer: This is not financial advice
If you have any ideas supporting or on the contrary to my opinion please leave a comment.
Thank you and happy trading.
Disclaimer: This is not financial advice
Comment:
It has pulled back to the trendline line... Would be nice to see it dive a little further and eating up the momentum to the downside.