Yo traders,
My first trade after the elections. Have been out for the last 2 weeks to avoid the uncertainty and volatility.
EG has moved down in downward diagonal/channel and is now rejecting a strong support. Price broke through the 200 EMA but the bias is still up towards the resistance. You can also find divergence on the RSI on the 4HR and 1HR TF and with these multiple confluences gives me confirmation for a movement towards upside. If this works out it would be a good 400 pip move where we can take partial profits as we move up.
Lets wait and watch
Please like and support
Thanks and regards,
Madtradex
My first trade after the elections. Have been out for the last 2 weeks to avoid the uncertainty and volatility.
EG has moved down in downward diagonal/channel and is now rejecting a strong support. Price broke through the 200 EMA but the bias is still up towards the resistance. You can also find divergence on the RSI on the 4HR and 1HR TF and with these multiple confluences gives me confirmation for a movement towards upside. If this works out it would be a good 400 pip move where we can take partial profits as we move up.
Lets wait and watch
Please like and support
Thanks and regards,
Madtradex
Comment:
Price now seems to be making a pull back. Expecting the price to now bounce back from the 200 EMA which is also a support and move upward to break the channel
Stay in trade or TP ?
please let me know your opinion