Hi Traders,
This is my view on this cross for the next few days.
#USDILS
Waiting for a strong breakout of the structure and the retest of the structure itself to go long
SL few pips below the lowest low and TP on Risk to Reward 1:3
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if...
☑️USD_ILS is trading in a textbook like bearish wedge
And while a move Up inside the wedge is still possible
I am expecting a bearish breakout and consequent move down
Until the pair finds support
SHORT↘️
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USDILS still at deep bearish with falling wedge pattern.
we can see multiple time, this pair failed to break up 0.382 fibonacci.
Tradinng idea,
We can wait at 3.2713 to enter short position with target at support falling wedge around 3.1342
At previous analysis we have bullish with target at 3.27
right now this pair reach resistance falling wedge.
a good idea to follow this pattern and aim for 3.12 as bearish target
Good luck
One of the limits for the year has been triggered by this instrument so I am long the currency pair. I typically close instruments based on weekly close so a weekly close below $3.2081 is my reason to close and potentially switch sides. This trade will be held for weeks once it goes into profit.
I got filled at $3.27153 with a SL of $3.10 with a target of...
