Consolidation Midweek Rally #6.1 (Friday Trade)
On Wednesday, price touched the April 29 breaker block, which led me to expect that Friday's price action wouldn't surpass Wednesday’s high. Additionally, since it’s close to month-end, the odds of upward movement tend to decrease.
Trade:
On Friday, price fell short of expectations but still provided an opportunity to secure some profits.
With a 30-pip stop loss, we can lock in profits while still aiming for target 2. However, it’s best to take partial profits, as Monday and Tuesday have the potential to push higher.
Future Value:
If Monday holds without breaking lower, Tuesday could potentially exceed both Monday's high (28.10.24) and Wednesday’s weekly high (23.10.24)
Trade:
On Friday, price fell short of expectations but still provided an opportunity to secure some profits.
With a 30-pip stop loss, we can lock in profits while still aiming for target 2. However, it’s best to take partial profits, as Monday and Tuesday have the potential to push higher.
Future Value:
If Monday holds without breaking lower, Tuesday could potentially exceed both Monday's high (28.10.24) and Wednesday’s weekly high (23.10.24)
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