Last time when I drew rising (red line) –I expected to trade only when pair starts moving below & going below 1.2850- which never happened & pair hit a new firstname.lastname@example.org..
In order to encash the opportunities –trader has to keep calm & wait for good opportunities –which is close.
Pair after hitting new email@example.com moving in corrective fashion & has been consolidating for past 3 days i.e. from 9th May 2016.
If Pair starts moving above 1.2880 first & should successfully breach the falling channel-that will be our first clue. Sometimes it can happen that post breach of channel-pair can fall & take support of that will be the sign of good opportunity or if it goes beyond 1.2950- one should remain long for new highs in the zone 1.3500 to 1.3700 where we shall complete 161.8% of the initial rise from 1.2460 to 1.3015.
One should not wait for complete target & should book partial between the rise.
Currently pair is firstname.lastname@example.org- if it falls in the zone 1.2785—1.2810 –it shall complete of complete rise from 1.2460—1.3015- as good zone for going long.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ