Hi Traders,
there is one nice opportunity to trade today. I was waiting for it some time and the time is coming now.
1. The pair was moving in very nice trading range last 8 months.
2. There was a try to break out of this range, BUT the price action was very weak.
- this is an alert, but there can stillbe a strong continuation
3. However the return to the range was much stronger than the move out of it.
4. After the return there was a weak UP move against the resistence - the market has created a flag.
5. There are multiple weak attempts UP. This is first bear close today.
There could still be a slow long continuation. This would be OK, but watch the strenght vs. weakness in this bars.
Watch the test of the last low of the swing low too.
I will let you know.
Nice weekend!
Paul
there is one nice opportunity to trade today. I was waiting for it some time and the time is coming now.
1. The pair was moving in very nice trading range last 8 months.
2. There was a try to break out of this range, BUT the price action was very weak.
- this is an alert, but there can stillbe a strong continuation
3. However the return to the range was much stronger than the move out of it.
4. After the return there was a weak UP move against the resistence - the market has created a flag.
5. There are multiple weak attempts UP. This is first bear close today.
There could still be a slow long continuation. This would be OK, but watch the strenght vs. weakness in this bars.
Watch the test of the last low of the swing low too.
I will let you know.
Nice weekend!
Paul
Comment:
One more retest of the entry point. Moving stop order to 1,361.
Comment:
Nice breakout. Moving stop loss to break even and waiting for potential profit.
Comment:
Target filled.