Get ready for a breakout. It has failed a few times in the recent past but the USD has more going for it this time around. NB. Go long and trade safely only after a retest of the breakout. A Fakeout will take out both the first immediate support level and the 2nd one - so do not place a too tight of a Stop loss
A breakout and a short trade triggered by ECB later today would be sweet, if not then just trade the current narrow range. The spikes on this one can be fierce so plan your TP and SL carefully. Happy trading
The 101 handle is the level I keep an eye on and which the price just recently didnt manage to reach, we now have the price in the middle of the range on the 240. One should expect more attempts to try this upper level in the near future which when it holds could make the price bounce all the way down too the 100 handle, or...if it would be able to break it (at...
1.3206 is the key area of interest righ now for either a break or a bounce. A bounce should lead to a re-test of the range breakout at 1.2850 A breakout and a close above 1.32 would open up for 1.35 to begin with. A bounce TP could the breakout level at 1.2850 Should be fairly easy to trade on the daily
Yellow circle : ultimate price/entry/ stop loss level Orange circle: Entered the trade since I am such a inpatient trader :) Green circles: TPs I entered fully aware that I will take some heat until the real supply area will be hit. Will just add on to this trade at a better price as I get it. Not a recommendation.
Worth keeping an eye on. Re-test and a take off higher.. or a fakeout... lets see
TP at 123.50 - 124 for now - after that a possible pullback to the 120 area from where the trade will be re-calibrated
Not fun to trade a double top after the fact and it is clearly visible and confirmed on the chart. This since one miss out on getting a good price. I would like to enter a short around 6.1755 area where it has bounced before, but the weekly chart closed with a double top and that could actually be the re-test from the breakout in early October so watch current...