I have been watching this pair closely for the past couple weeks, Its now coming to a zone of interested (the purple box). This week I am hoping to see it come up to this area again and hope to see further rejection for us to take a short. Ideally we would like to see a dojo or spinning top formation on the daily to confirm the rejection. It has also come up the the 78.6% on our fib which is the last point before we change our bias to longs.
So to summarise. I am looking for further rejection this week for optimal entry around 1.32500 if we blast and CLOSE above this level then we can re-evalute it. Remember to take partial profits at the 0% -20.00% and our final target at the -68.7%.
400 pip move down to the -20.00%. For a 10/1 RR. The -68.7% is more of a long term target e.g 6 months.
So to summarise. I am looking for further rejection this week for optimal entry around 1.32500 if we blast and CLOSE above this level then we can re-evalute it. Remember to take partial profits at the 0% -20.00% and our final target at the -68.7%.
400 pip move down to the -20.00%. For a 10/1 RR. The -68.7% is more of a long term target e.g 6 months.
Order cancelled
Comment:
Didn't take this trade as there wasn't any 4hr candle rejection which I said we needed before we take a sell, Bias has now change to longs
Comment:
no loss taken