Competing channels here of various flag -
Purple - bearish flag, measured move to .0028
Green - bullish flag, measured move to .0042
Yellow - bearish flag
These all line up well with each other. A break down from the purple would have us touching the bottom of the green channel, the 768 fib of the green's pole movement, and the .0028 horizontal support. I'd expect a bounce there, and possibly a move out of the green channel and toward the yellow upper resistance.
Two short opportunities here - either a short at the purple resistance or a break down from the yellow channel. In either case, .0028 resistance will be the one (and only) target.
Purple - bearish flag, measured move to .0028
Green - bullish flag, measured move to .0042
Yellow - bearish flag
These all line up well with each other. A break down from the purple would have us touching the bottom of the green channel, the 768 fib of the green's pole movement, and the .0028 horizontal support. I'd expect a bounce there, and possibly a move out of the green channel and toward the yellow upper resistance.
Two short opportunities here - either a short at the purple resistance or a break down from the yellow channel. In either case, .0028 resistance will be the one (and only) target.
Trade active:
Sitting right around entry here. Wait for a clear break down with confirming volume before entering here. I think the market has a pretty decent chance to go for a pump - if that's the case then I'd hold off entries and let the data accumulate as I think a bounce here would lead to some fairly significant upside.
If you've opened a position, then I'd close around break even and wait until we get confirmation. Better to close/re-open, then keep yours open and potentially have to sit in a losing trade.
If you've opened a position, then I'd close around break even and wait until we get confirmation. Better to close/re-open, then keep yours open and potentially have to sit in a losing trade.
Order cancelled:
Going to cancel the higher entry position and just wait things out. Market looks primed for a big move either way and want to see some confirmation before finding a good entry.