GA Thesis
- Weekly: Last weeks candle closed as a bearish engulfing, engulfing previous 4 weeks signalling great bearish momentum. Price also broke and closed below 1.8960 changing GA structure to bearish after taking out previous lows.
- Daily: After breaking below 1.8965 zone GA has now found new lows at 1.8670 support zone. What I now do expect to see is a small correction/retracement back up to 1.8965 for a retest/small recovery after the break out.
- 1hr: On lower time-frame I am now expecting price to fall into 1.8670 support for one more test, If zone holds then we could see a strong bullish rally up to 1.8965 resistance. After a break of descending trend-line I am confident momentum has swung in the direction of the bulls.
Trade active
Trade closed: target reached
First TP Hit +125pipsTrade closed: target reached
TP2 hit +220pips
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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.