DESCRIPTION: I've been in this trade since the end of last week. There is a head and shoulders formation on the 12h chart; we have the breakout of a trendline on the H2 and the MA crossover. The level where the shoulders are located is an important resistance.
ENTRY: MA crossover and trendline breakout on the 2H chart.
TARGET: 127.2% extension + next monthly support. But will close half of my positions @ 1.40300.
STOPS: Are placed above the resistance @ 1.41800.
ENTRY: MA crossover and trendline breakout on the 2H chart.
TARGET: 127.2% extension + next monthly support. But will close half of my positions @ 1.40300.
STOPS: Are placed above the resistance @ 1.41800.
Trade closed manually
Comment:
Exited at +10 pips. Will reenter if breaks 1.40700.