Rising Wedge/Flag suggesting shorting opportunities.
Updated
Daily/4H - Rising Wedge Pattern - Suggesting a move to the downside is a high probability.
With some strong resistance zones of 1.28 round numbers and 1.2840 (.618 Fib) just above my area of interest.
I have a couple areas for entry noted (pink sell lines), depending on what price action is like early in the week.
I will be watching for news catalyst events as well.
COT/Big Boys are net short on this pair, suggesting they see more downside as well.
With some strong resistance zones of 1.28 round numbers and 1.2840 (.618 Fib) just above my area of interest.
I have a couple areas for entry noted (pink sell lines), depending on what price action is like early in the week.
I will be watching for news catalyst events as well.
COT/Big Boys are net short on this pair, suggesting they see more downside as well.
Trade active
Trade triggered at 1.2798 overnight.Target 1 reached. - move SL to breakeven +2
Trade active
Targets updated on lower TFTrade active
Near 2R Zone and 50% Fib. I am seeing a Falling Wedge forming. Suggesting that some strong upward movement is a high probability. Probably a correction. I have tightened up my SL to Lock in 50 pips.
Trade closed manually
The confluence of Bottom of the channel, Falling wedge, and RSI divergence suggests an up move is a high probability during the London session. As I am heading to bed soon, I will close this trade and take my 60 pips profit, and good night to all.
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