DESCRIPTION: 38.2% rejection + channel breakout.
ENTRY: I entered the trade at the breakout of the channel (breakout of the counter trendline).
TARGET: TARGET is at the next support level of 1.32, combined with the AB extension level of 127.2%.
STOPS: STOPS will be placed above de 38.2% retracement level.
ENTRY: I entered the trade at the breakout of the channel (breakout of the counter trendline).
TARGET: TARGET is at the next support level of 1.32, combined with the AB extension level of 127.2%.
STOPS: STOPS will be placed above de 38.2% retracement level.
Comment:
Exited the trade at 1.33440 (-20 pips).
Comment:
I reentered at the second breakout and got out when the market rejected the last low formed at 1.32750
Trade closed: target reached