As all retail traders are looking for long trades, we know this pair can easily get lower again.
The nice high test at out weekle resistance is a good signal to trade from along with a bunch of other confluences on the different TF's.
I am back with more analysis.
Use them how u want them to use, this is my opinion and my way of profitable trading. I don't recommend following people blindly.
U can find the other "tradetostart's" on my instagram : FXB_Buddy
Check it out! The link to my website is also on there.
2/ 50 ema bounce
5/ fib play 61.8%
6/ Bullish MACD
7/ 2.145 as support
Took this trade last thursday ( Sept 17 ) but again because of this pullback today, 400 pips are still on the table, 170 pips are currently in profit. I see this pair go to 2.20
2/ Fib play
3/ 91 as resistance
4/ High test candle ( 2 in a row )
5/ Bearish MACD
6/ We are bouncing of the 200 EMA on the Weekly chart
After day one of the trade, U can see that we broke the CTL, which is a great sign for this pair to finally head lower again.
It is not too late to enter, because today we got a pullback.