-WE HAVE HIT A MAJOR MONTHLY SUPPORT LEVEL HERE
-PROVIDING WE HOLD SUPPORT THIS COULD BE THE OUTCOME..
-THIS IS A GREAT RISK TO REWARD TRADE
-FOR A REVERSAL OR EVEN JUST A RETRACEMENT 0.618 AREA
-STOPS AS SHOWN
-THE POSSIBLE "C" AREA IS A KEY LEVEL OF RESISTANCE SO
WE EITHER BUMP OUT HEADS ON IT THEN INTO SHORT TRADE
OR BREAK THROUGH.
-IF WE HIT RES AND TURN AROUND....WE WILL BE LOOKING TO
MAKE THE ABC AND D
-TARGET FOR THE SHORT WILL BE WEEKLY SUP 0.6720
-BEAR IN MIND IF THIS SUPPORT DOESNT INTIALLY HOLD WE ARE GOING STRAIGHT INTO SELL MODE!!!!!
-PROVIDING WE HOLD SUPPORT THIS COULD BE THE OUTCOME..
-THIS IS A GREAT RISK TO REWARD TRADE
-FOR A REVERSAL OR EVEN JUST A RETRACEMENT 0.618 AREA
-STOPS AS SHOWN
-THE POSSIBLE "C" AREA IS A KEY LEVEL OF RESISTANCE SO
WE EITHER BUMP OUT HEADS ON IT THEN INTO SHORT TRADE
OR BREAK THROUGH.
-IF WE HIT RES AND TURN AROUND....WE WILL BE LOOKING TO
MAKE THE ABC AND D
-TARGET FOR THE SHORT WILL BE WEEKLY SUP 0.6720
-BEAR IN MIND IF THIS SUPPORT DOESNT INTIALLY HOLD WE ARE GOING STRAIGHT INTO SELL MODE!!!!!
Trade active:
The support has been broken.....if we close below it will have to close the trade I'm afraid
Trade closed: stop reached:
Unfortunately we broke the support we could see some nice downside now.....lets look for bearish setups
Trade active:
stopped out but re enter on solid bullish confirmation