SXP and all you need to know about it Hello everyone, hope you guys having great trades.
for last few days, SXP has been in a trading range, between support and resistance zone shown on the chart. we haven't seen a daily candle closing below support or above resistance but we may see it today.
anyways the best setup would be to wait for the breakout confirmation ( Daily candle closing above resistance ), and then entering the trade.
I personally think this currency has a lot higher to go and has been playing around for quite a long time, I guess its time to see some moves.
Targets are also drawn with red lines on chart but here is your TP :
- TP1 : 2.941
- TP2 : 3.580
- TP3 : 4.204
Enter with your own strategy and risk management, my advice is to enter with strong candles confirmation, and placing your stop loss somewhere in trading range as the support zone is too far away.
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