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U.S. Dollar / Polish Zloty

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USDPLN trade ideas

USD-PLN breaks the .702 fib extensionBreaking above the .702 fib extension is a bullish indicator for the currency pair. My immediate target is up at around 4.30 in the midterm (next few weeks to months). From there we will have to see if the pair will respect the previous ATH on the pair or if it will execute the massive multi-year cup and handle and break out to ~5.50. I plan to enter a small position at 4.30 with a target of 3.80 and a SL at 4.40 If the SL triggers my next attempt at entry will be 5.50 targeting 4 flat with a SL at 5.65
Long
by cryptofightnight
Few Years USDPLN Market phases - Price Action Market phases - Price Action The market can only go in three directions: 1. up, 2.down, 3. sideways. With high / low defined, we can use several charts to identify these market phases and start a simple search for our Swing Highs and Swing Lows. In short: • the market rises when price makes higher highs and higher lows. • the market goes down when the price makes lower highs and lower lows, • The market goes sideways when price does not make higher highs and higher lows or lower highs and lower lows. It may sound childishly simple, almost like stating something obvious, but you will be amazed how often people forget these simple facts. One the most important question is: "Where is the market going?" A trend shift to a downtrend occurs when we see the following sequence: The change of direction is confirmed when price drops below the last lows (as seen in the chart above). Otherwise speaking, this is a 1-2-3 reversal - you go short (sell) after correction at the level of the blue line. or sell to the level of the blue line (then repeat after correction, and re-sell )
Short
by UnknownUnicorn2548728