Watching the 1H channel bottom for a dip reaction.
Long Entry is in the 17080-17070. Target 1: A New high above 17153 Target 2: A hit of the channel high 17300+ Stop below 17050
Failure could indicate the start of another pullback of this month swing 16260-17153.
Comments
fxswing
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Selling all longs at 17073 for a small gain, not liking the fact we can't get back inside the channel on the last bounce.
We could get lower, below 17K testing 200sma 1H, or even try to test the weekly pivot at 16920.
I don't like the odds here, so I'm out of the trade.
Better safe than sorry especially at month end just before the US labor day.
Not getting it wrong is often more important than getting it right...
;)
.
.
Selling all longs at 17073 for a small gain, not liking the fact we can't get back inside the channel on the last bounce.
We could get lower, below 17K testing 200sma 1H, or even try to test the weekly pivot at 16920.
I don't like the odds here, so I'm out of the trade.
Better safe than sorry especially at month end just before the US labor day.
Not getting it wrong is often more important than getting it right...
;)
.
.