The pair completed a bullish Bat pattern approximately 12 hours ago. I am now looking at the falling wedge pattern + bullish divergence for a potential long trade Would like to see price go above 1.2460
If you take this trade, stops should be below the 1.2420 levels
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Entered trade at the break of 1.2460. Now price still about there. Shifted stops to slightly below the falling wedge
Do I see a bull flag in the making ?
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I only saw this bearish pattern now, could/should have taken profits on the long trade earlier. Anyways, rice is at critical level again, if next week the TL support holds, then I'll stick to the long trade. If breaks below the support, I'll look to cut the trade.
Trade active
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Price bounce up again at the open of the new trading week. I have stretched my targets to 1.2650. New hints I see in the chart 1. Price bounced off the bottom of the channel 2. RSI on the H4 is still going up 3. Check out DXY, starting a new trend up ? 94.10 is critical
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We are at the recent highs of 1.2550 again. Need to clear this hurdle to go higher
Trade active
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Still could not clear the 1.2550 level, forming a reversal candle on H1 Shifted my SL to 1.2525 locking in a min of +65pips profit
Trade closed: stop reached
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Broke above the 1.2550 but could not sustain the momentum. Hit my protective SL and out with +65pips profit