Looking to long here. If price breaks below channel then I will switch to a short.
A little late in posting this chart. Took the trade already and set stops to BE. But there is still time to enter. Good luck.
Already opened the position on the line at 0.8535. Will add to it if we break out of the current structure. Enjoy
Been short on this pair since the top. Seems like a good place to long because of the bounce from 50% channel mark (black dotted line) and is looking to break above the recent down trend (thick white dotted line) Looking to TP on half the position at the end of the all knowing red arrow and see what extra I might be able to get with the rest.
A little late in posting this chart, but I entered long on the channel break. This idea is related to last weeks short which seen the price ride down the channel. There is still possibility for this pair to go further south, so a sensible stop with good R:R needs to be in place.
Buy now, close at end of arrow or above. Pips for everyone :)
Hit top of channel with bear divergence, so I shorted it there. Charted the temporary structure so I could confirm a good chart to post for others and a place to add more shorts. Happy trading.
Price is nearing the top of the channel. Selling at the next strong reversal signal is a good ideal. Within this channel there is an upper TL which price appears to be at right now. If a reversal happens here then I will attempt to sell... If price goes above then I will sell when the price reverses at the top of the channel and passes under the TL shown.
We are approaching the end of a very large structure, so long term trading options are limited. I will be waiting until the price reaches the top line and await a bounce to sell. (Or long if it breaks, obviously). From there I will play it down until the end and await a breakout.
Going to rearrange my fridge and hopefully this move has started when I come back.
A short within the red zone is a good idea if you find a good entry on smaller time frames. Shorts upon breakout is also advised, obviously.
We are edging towards the line of the downtrend. If there is a convincing break, I would like to see 106 and 108 If we bounce, then I'm looking to take profit near the most recent bottom. Stoch shows above 90 during downtrend on the daily which is always a good sign for bears. But it is better to react than to predict.