Well what we have here is another beautiful rendition of trading based off of structure levels and trend following. Hmmm, I wrote down some notes on the chart to explain some of the technical attributes of the pair. I will be looking for a long opportunity on P/A reaching confluence of the lower boundary of the channel and the .50 Fibonacci level. With stops set below the .618 Fib Level. If the .618 Level is broken then I will sit on the sidelines and wait to see what P/A decides to do . I will also provide on here a link to the fundamental data on S.A. so you can also research into the fundamental reason of the pair being on this strong bull trend besides dollar strength.
Hello, yes you could if you'd like. I took some off at the -.27 Extension and near the -.618 Extension... I'm leaving 25% of the position open with remaining stops below the .618 Retracement, slightly below 11.7557. And as for selling, I don't look for any short counter-trend opportunities since it is in a strong uptrend. I just look for buying opportunities on retracements.