The previous chart showing this trade setup (along with the majority of my other charts) were hidden/deleted due to accidentally breaking the rules with my descriptions. Sorry guys!
I'm re-posting it since it was still on my screen... Black line is entry, green line is initial TP level, red line is SL.
I don't know how much of a demand there is for me posting...
Shorts from the previous trades have hit their target (see related ideas)
Waiting to see how this candle plays out, but ideally we should be able to buy around here... If not and the support breaks, wait and see how price reacts at the 2nd support under it.
TP = Take profit
We've made some good pips with this pair recently if you have been following (related ideas). Here are the two scenarios.
Scenario 1: Price breaks under current support and we sell
Scenario 2: Price remains in the structure and starts rising towards the top
I favor option 1, and this is the trade I am waiting for... However I will happily use Scenario 2 as my...
Please see related idea for more insight. Many pips made so far with these moves recently.
This is what I like to call a triple whammy.
1) The gap must be filled
2) Retrace is due.
3) Previous support should be tested as resistance.
The combination of these factors allows us a better understanding of WHEN the price is likely to reach our target. Which makes...
Top of channel, nice divergence, red arrow etc.
See related ideas to get a better picture.
Red arrow is not predicting exact price or time. Just a general direction. Watch closely for your exit as it happens.
