Looks like a very strong commitment to continue the uptrend, we have 2 small levels to get through, but there is a massive updised commitment off the lower uptrend line with the stop run not too long ago. there is also strong buildup above the triangle we have been trading in. Sellers want to take the price down, it's very clear, but there is just not enough of them left, they're about to get run over.
Trade is active, entry at 1.097, stop at 1.0945, targeting the 1.114 area key level zone
Trade is active, entry at 1.097, stop at 1.0945, targeting the 1.114 area key level zone
Trade active
Trade already started, see linked idea, made a new idea to show why I took the position. Happened very quickly so I jumped on itNote
We also have a cup and handle pattern, just not the normal way. The double Top made from Tuesday to Wednesday is the handle, then the slow curl in consolidation to now is the cup. In most cases, this pattern indicates a break to the upsideNote
Look at the two breaks under the curl as x+-x =0. Because we didn't make any new move after those "incidents" I don't count them as significant...They count for the trend line, but for directional ques, not much. The main tip off was the massive bull candle on the 5 minute chart that took up all the slack back to the 5 minute trend line, where the entry was made upon getting back on top of that short term trend preparing for the break
Trade closed manually
Lost volume at the wrong time.... Closing for a small loss, -11 pips. It's going to challenge the 1.092 area again before taking off id believe at this point, and with the close of the day coming soon, I'll trade for the behavior pattern of challenge the low then go, so I'll go for a lower buy entry after the open
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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.