Trendline break and re-test. Now firm supporting heading into election.
Keep wide stop loss and smaller position size for next 48 hours while election results pour in.
SL -- 1.3200
TP1 -- 1.3350
TP2 -- 1.3450
All three confirmations for price to correct below neckline of "incined" Head and Shoulders --
Growing concern over fresh lockdowns hit travel sector hard while banks and oil price also suffer
RSI nearing overbought 65 to 70 -- also on Right Shoulder
The riots and unprecedented uncertainty concerning many national elections from NZ to USA...
Risk off thru most of October, as long as we don't get back above the multi-month trendline, we should break down thru Ichimoku Cloud and hit oversold RSI of 30 over next 5 trading days.
SL -- 0.6635
TP1 -- 0.6420
TP2 -- 0.6250
in the recent past, when we see a Ichimoku Cloud break in the VIX ( Volatility S&P 500 Index ) we see a strong acceleration upwards. The most recent example of this was on 13 Feb 2020
Inversely proportional to the VIX , the S&P 500 Index had a significant breakdown, represented on 21 Feb 2020
Since COVID19 outbreak, governments around the world have been...