We may have some resistance here around @113.5, but I'm seeing more up move for this pair.
The real difficult levels for this bullish movement would start above @114.5 and all the way to @118.00, where the weekly 61.8 Fib as well as three major monthly trend lines and monthly moving average are intersecting there.
Trading plan:
will calculate my short pending order to be with a wide a SL above @122.00. My short order will be divided and spreaded all the way between @114.5 and @117.5, the higher the larger. with risking not more than 3% as an initial plan.
Long hedging positions would be set later if the @118.5 is broken and retested.(low probability but not impossible)
Will update the chart later.
Good luck
The real difficult levels for this bullish movement would start above @114.5 and all the way to @118.00, where the weekly 61.8 Fib as well as three major monthly trend lines and monthly moving average are intersecting there.
Trading plan:
will calculate my short pending order to be with a wide a SL above @122.00. My short order will be divided and spreaded all the way between @114.5 and @117.5, the higher the larger. with risking not more than 3% as an initial plan.
Long hedging positions would be set later if the @118.5 is broken and retested.(low probability but not impossible)
Will update the chart later.
Good luck
Comment:
Price is entering the short zone, it is safe to short untill 118
Comment:
Price is consolidating above @116.80, this may go further up, my shorts are all running, no long hedge positions are opened yet, but looking to open them if the price could not break down the @116.00
Trade closed: target reached:
1st target reached, 1 year consolidation to get there