A lovely long going on here with 1:2.5 RR.
There has been a very neat and tidy 5 wave bear tend that has just come to an end today.
Lovely bullish impulse in progress including a retest and bounce from the trend line. My targets are just shy of the top of the bear wave and correspond with previous strong support from back in November.
Due to the strength of the lead impulse we could however see a slow down and this may take a week or so to complete.
After completion and impending consolidation I will be looking long on this pair for the next 6 months.
the 10500 Region could (probably) will cause a bounce back. It could be an idea to TP here and buy the pull back based on a fib level to squeeze out a few extra pips, but that is not how I roll.
There has been a very neat and tidy 5 wave bear tend that has just come to an end today.
Lovely bullish impulse in progress including a retest and bounce from the trend line. My targets are just shy of the top of the bear wave and correspond with previous strong support from back in November.
Due to the strength of the lead impulse we could however see a slow down and this may take a week or so to complete.
After completion and impending consolidation I will be looking long on this pair for the next 6 months.
the 10500 Region could (probably) will cause a bounce back. It could be an idea to TP here and buy the pull back based on a fib level to squeeze out a few extra pips, but that is not how I roll.