Similar to the NZDUSD short, price has broken below an ascending trendline, made a corrective structure, then broke below this new support ascending trendline.
This is a late entry as I would have ideally entered on the breakout close.
Stops set within the corrective structure and targeting the 1.618 fib level which is in line with the July double bottom.
This is a late entry as I would have ideally entered on the breakout close.
Stops set within the corrective structure and targeting the 1.618 fib level which is in line with the July double bottom.
Note
I had moved to stop up to 70.600 before the stop shown on the chart was taken.Note
Some profits taken at the 1.272 fib level and stops moved into profit. Stops have since been hit.
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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.