MGL has formed a large body candle the previous day followed by a small range DOJI candle on daily timeframe.
The price is moving along a rising trend line & price is currently at the trend line.
The next candle may give a fine move on any side, either respecting the trend line and breaking above or breaking it below.
Long above 1014
Short below 991
Fixed target: 1% (or the nearest S/R)
NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
The price is moving along a rising trend line & price is currently at the trend line.
The next candle may give a fine move on any side, either respecting the trend line and breaking above or breaking it below.
Long above 1014
Short below 991
Fixed target: 1% (or the nearest S/R)
NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
Comment:
Target of 1% not reached.
Trade closed manually:
Price closed at 993.3 (0.2%) loss