Indicators are saying we should be looking for a shorting opportunity soon. A strong break of the 4 hr (blue) TL will give us a good opportunity. (see my break out rules link below)
Likewise if price gets up to the daily and weekly TL (green and orange) look for a reversal there.
If a strong break of these lines occurs with a shallow pullback look for a long to the 1.15-1.16 area.
Educate yourself, create a trade plan, validate your trades with other trader's ideas. Own your trade good or bad.
Likewise if price gets up to the daily and weekly TL (green and orange) look for a reversal there.
If a strong break of these lines occurs with a shallow pullback look for a long to the 1.15-1.16 area.
Educate yourself, create a trade plan, validate your trades with other trader's ideas. Own your trade good or bad.
Comment:
I did not take this trade as the move through the trend line was too shallow at first looking like a correction or flag. It then fell away steeply but the RR is not there. I will look for bear flag pullback to possibly short. If we get a strong sharp rise look for it to test the trend line before dropping.
Comment:
The breakout seems to be tapering off. I am expecting another move up to challenge the TL.
Comment:
