Hello all
Looks like i was too early getting into this trade, got taken out only for it to reverse - that's forex for you
I entered again at 20:00 BST on the 1hour close candle. I do now expect this to go all the way down to 120.00
You'll note that the short term upward trend (pullback) has now been broken and a new lower high has been printed. i expect this to now keep cycling lower.
I will be entering on every pullback and compounding my positions.
I took 3 entries - First is a 4 to 1, second is 6 to 1 and third is 8 : 1 - i will then look to add to these as we head into next week.
This could be a great trade over the coming 1 to 2 months
I am aiming for 120 as it is a round number - at which point - i oould not be surprised aligns with Brexit and will reverse quickly into a long movement upwards.
Thanks for looking
Duncan
Looks like i was too early getting into this trade, got taken out only for it to reverse - that's forex for you
I entered again at 20:00 BST on the 1hour close candle. I do now expect this to go all the way down to 120.00
You'll note that the short term upward trend (pullback) has now been broken and a new lower high has been printed. i expect this to now keep cycling lower.
I will be entering on every pullback and compounding my positions.
I took 3 entries - First is a 4 to 1, second is 6 to 1 and third is 8 : 1 - i will then look to add to these as we head into next week.
This could be a great trade over the coming 1 to 2 months
I am aiming for 120 as it is a round number - at which point - i oould not be surprised aligns with Brexit and will reverse quickly into a long movement upwards.
Thanks for looking
Duncan
Trade active
Hi AllTrading update - position 1 is closed at support, trades, 2 & 3 have had the stop moved to 124.45, lets see how it goes, as i think there is potential for it to climb higher.
Trade active
Hi all, all stops moved to 123.60 - it may have a complex pullback before continuing lower again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.