EGLD / TetherUSShort
[SHORT] rising wedge on EGLD
Updated
Rising wedge forming on EGLD, reaching and rejecting the $60 psychological resistance.
We are looking for a small short position at 60 with wide SL, adding up during pre-FOMC volatility and adjusting SL as price reach the wedge support. looking to add up to the position after a close bellow the wedge.
trigger:$60
entry1: $60
entry2: bellow wedge
target1: $53,45
target2: $50,50
SL: $62,55
Will not rush on this trade, this week price action is beyond technicals.
We are looking for a small short position at 60 with wide SL, adding up during pre-FOMC volatility and adjusting SL as price reach the wedge support. looking to add up to the position after a close bellow the wedge.
trigger:$60
entry1: $60
entry2: bellow wedge
target1: $53,45
target2: $50,50
SL: $62,55
Will not rush on this trade, this week price action is beyond technicals.
Trade active
trade is active now, manage SL before FOMC. if 0,5 is announced close inmediatelly
if press conference hints pivot/dovish set SL at entry
good luck!
Note
crazy volatility as expected, I hope your SL was set wide enough. If not, you can reenter the trade near $61.5 with tight SL, again, SMALL position. The real move starts on the break of the diagonal support.Note
1st target hitNote
2nd target hit, big profits!Trade closed: target reached
can close trade here, no point on waiting for 0,25 more
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