update: broke out of consolidation lets look for a .618 retracement for a long position --------------------------------------------------------------------------------------------------------------------------------- Good day to you traders,
Just saw the 2nd breakout last night so i looked for a trading oppertunnity. I have been waiting for a consolidation above the trendline because, after a second breakout, i think this is a pretty good confirmation that the price will go higher after a very long down trend. IF the price breaks out ABOVE the consolidation THEN i think this is a pretty good oppertunity to long this pair. IF the price retraced .618 THEN i will long till previous structure @ 0.67410. Stop loss will be @ 0.66423 just under the consolidation.
edit: RSI isnt overbought yet
------------------------------------------------------------------------------------------------------------------------------------------------------------- These are my trading plans its on your own risks to follow me.