Here we have an ascending wedge in an ascending channel so overall we know we're in a bullish market. Now what I'll be looking for isn't a total reversal but a pullback depending on if we see the following;
+rejection of the current s/r zone (already done),
+break, close and retest of both the ascending wedge and channel,
+break, close and retest of the 50ema.
+rejection of the current s/r zone (already done),
+break, close and retest of both the ascending wedge and channel,
+break, close and retest of the 50ema.
Trade active
Comment:
Our First take profit target has been hit, I'll advice closing 80% of position and letting the rest run. Also, at this point be sure to have sl at break even.
Trade closed: target reached:
Not holding to Tp 2 on this one as I anticipate some dollar strength next week.