The America's session pushed boundaries late yesterday but the price retaliated back to the channel within less than an hour. The Bull spike was also the first 1976.70 retest since the 28th, so price action alone reveals a Bullish bias.
Bounces both off the Channel and the 50 SMA allow minor trade entries while we are in a consolidation trend. Check for momentum before entering these minor trades to ensure price action takes you the distance, place tight stop losses. Also the respected 20 SMA 1H TF is a critical moving support during this time and also direct the consolidation Channel.
I believe the Asian session will play safe within the the Channel with the Euro session more risky price movements. If the Euro session do not let the price slip too low we could see another run at the 1976.70 by the American Session leaving this Channel as AU history.
Trade mini margins (or risk it all) and Profit! 🖖
Bounces both off the Channel and the 50 SMA allow minor trade entries while we are in a consolidation trend. Check for momentum before entering these minor trades to ensure price action takes you the distance, place tight stop losses. Also the respected 20 SMA 1H TF is a critical moving support during this time and also direct the consolidation Channel.
I believe the Asian session will play safe within the the Channel with the Euro session more risky price movements. If the Euro session do not let the price slip too low we could see another run at the 1976.70 by the American Session leaving this Channel as AU history.
Trade mini margins (or risk it all) and Profit! 🖖