About meTrading for a little over 5 years, trained by Technical Analyst Andrew Long http://www.triggers.ca Follow me for Chart updates everyday marking trading plans and targets.
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We have european data coming out at 5 am and american at 8:30 that could twist this us so be sure to be watching in the mean while and maybe take some profits if things tart moving against you, i have those 2 as my trade scenarios red is my stop loss and the green is possible targets reaching to edge of the expanding channel. Short is where most profits can be...
So this move upward was very strong and direct, expecting some reversal either t holds at the new support and surges higher, which seems a bit outrageous to me, i would expect a bit more of a consolidation and fall back possibly to the heavily confluent area. If it goes ahead i ahve a fb level at .959 level for a target.
Further recover will lead us to the next Fib channel level to the 1.5 mark or failure and continue to fall with all the brexit and other Euro fears.
If i see a failure and a break in below the middle yellow BB band will be a major sign things will be falling again.