Everytime it touches on the resistance in the past the pair rejected, but it's not worth to enter now cuz its almost touching a minor support level so I will wait too see if it closes below the Orange Support Level to enter in a Short Position. Almost everything in my trading plan is checked but not one "box" so I will wait to see what happens.
The pair is inside a Consolidation Box and I wait to see how it will react to the next support zone. A trend was being created with HL and HH but with nfp day maybe we are seeing a beggining of a reversal to test the major support zone again
I opened a position last week and hit TP1-TP2-TP3. Right now I'm looking for the pair to touch the trendline and see if it breaks or use it as a support to go to my TP4.
If it breaks - closing TP4 imediately and looking for selling oportunities
If the trend continues maybe open another buy position to secure more profits in the path to the TP4.
GJ is still in bearish mode. Let's see whether if its gonna keep on going down. After we've collected massive pips last month, we are now entering the 'watchout area' - play safe mode.
Looking at candle closed in the Daily Chart rejecting the 50 Fib Level, we could see a pullback scenario in the 4 Hr TF.
Possible move to the upside towards 50/61.8 fib level on the 4 Hr TF if the Manufacturing PMI data today come out positive.
We can monitor the key levels for a short continuation as long as there's no new highs form or breakout on the...