For those who did not get the entry or possibly looking for an entry sell position, there are 2 valid opportunities.
Support & Resistance 1. look for a double top on the hourly chart and possibly an exhaustion or harami candle. Place Sell stop at this point., with Stop Loss at a 127% fib extension of the 2 bearish candles
Trend Continuation 2. Place Sell Limit Order at 61.8% retracement of the 2 bearish candles. Place Stop Loss at 127% extension of the 2 bearish candles
Note There are news events early in trading week look out for gap in price. see link for news events fxstreet.com/economic-calendar
Good luck in trading Guys
Trade closed manually
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Manualy close TP #1 @ 105.80 Safe Exit
Comment
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see chart
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Possible counter trend Not for the risk averse trader
RSI Oversold Consolidation Upcoming minor news Success rate 50 %
Comments
Elvis.Deonarine
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Elvis.Deonarine
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See Chart and Ant comment for Aggressive Counter Trend Gartly
Elvis.Deonarine
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Safe exit
Elvis.Deonarine
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Elvis.Deonarine
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Graphical Explanation of trade comments.
Please Review and Comment
Good Luck Guys
lucky_human_foot
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This trade is positively correlated with S&P 500 which also seems ready for a turnaround, so overall it looks like a trade with good timing and a good risk-reward ratio
Nice Video I Guess you are in he trade also. i would appreciate it if you can share any insight on how you are managing your exit Strategy. Thanks for the video it gives me more confidence in my analysis