Patience with this one. Waiting for a trend line break or for the price to enter the zone.
I will then be targeting the 38.2% and 61.8% extensions, closing half positions at each point.
I am interested at the resistance around 1.31056 which hopefully will be broken soon so the price can head higher.
It will ...
Here is a good opportunity to go both long and short on this pair.
If a bottom is formed at point C and finds support, this will line up perfectly with a 61.8 retracement at point D.
This will then form another opportunity to go short with the TP being at the 76.4 extension level.
I will only be entering these ...
GU well exceeded my resistance level when the EU interest rate decision was announced followed by the speech. Due to this, my initial trade was stopped out.
I have re-entered here at the perfect time where I will ride the price down to 1.41855, near previous support.
This pair continues to make new higher highs in the upward channel.
Its recent fall may now provide an opportunity to go long, however, I will only do so if there is more confirmation from the candlesticks. I expect the price to reverse in the blue zone/ beneath the 38.2% retracement and the previous resistance ...