When we look at the chart we can see that the wedge is tested at the moment. What we would like to see is that it breaks out of the wedge and than do a quick retest of the wedge. When this happens we will short this pair. What is also very important to take away from this chart when we look at it is that the 0.382 level of the fib has been respected in the past. What I would do is make sure that when I take this trade that I secure some profits at that level.
Please let me know in the comments what you think of this setup.
Please let me know in the comments what you think of this setup.
Comment:
Trade going good. Have to keep an eye out for the 0.382 level of the FIB.
Trade closed manually:
It looks like it is going to go up more. Just did a new analysis for the long version for this pair. go and have a look at that one and let me know what you think of it.
Comment:
Going to re-enter in a bit when it touches the wedge again. The other trade that was long for this pair has been closed with some profits in the bank.
