Possible trade idea:
Waiting for the pattern to complete then watch price action along with news on the days for the move up.
Bullish as market starts to price in the possible QE tapering by the EU. So I'm not looking at GBP weakness but more on the EURO strength.
TPs on chart
Waiting for the pattern to complete then watch price action along with news on the days for the move up.
Bullish as market starts to price in the possible QE tapering by the EU. So I'm not looking at GBP weakness but more on the EURO strength.
TPs on chart
Trade active:
TP 1 Hit.
No change to graph, including the time period of TP 2 and TP 3. (ca. 2weeks)
Now let's see if TP 2 (~0,9050) i.e. TP 3 (~0,9125) is achievable.
Main drivers this coming week (CW 40) are the PMI figures out of the UK.
No change to graph, including the time period of TP 2 and TP 3. (ca. 2weeks)
Now let's see if TP 2 (~0,9050) i.e. TP 3 (~0,9125) is achievable.
Main drivers this coming week (CW 40) are the PMI figures out of the UK.
Trade active:
Next resistance at 0.8950 which is also the 38 Fib line from the high from end Aug.
If this is broken then target TP 2 is in sight.
Economic drivers today ECB monetary policy and next week Tuesday UK Production figures and Wednesday inflation report.
Also very good/bad NFP numbers tomorrow could have an impact on this pair.
Next resistance at 0.8950 which is also the 38 Fib line from the high from end Aug.
If this is broken then target TP 2 is in sight.
Economic drivers today ECB monetary policy and next week Tuesday UK Production figures and Wednesday inflation report.
Also very good/bad NFP numbers tomorrow could have an impact on this pair.
Trade active:
TP 2 missed by 10pips but trailing stop came in handy to close 2nd trade at 0,9021
3rd and final TP still in range if the current trend line at 0,8821 is not broken on the daily TF.
Price currently on the 23,6 Fib retracement of the end Aug downward move.
Main drivers this coming week (CW 42) are:
17.10 UK CPI
17.10 EUR CPI
17.10 Carney speech
18.10 Draghi speech (and Sunday 22.10) !!!
19.10 UK Retail sales
TP 2 missed by 10pips but trailing stop came in handy to close 2nd trade at 0,9021
3rd and final TP still in range if the current trend line at 0,8821 is not broken on the daily TF.
Price currently on the 23,6 Fib retracement of the end Aug downward move.
Main drivers this coming week (CW 42) are:
17.10 UK CPI
17.10 EUR CPI
17.10 Carney speech
18.10 Draghi speech (and Sunday 22.10) !!!
19.10 UK Retail sales
Trade closed manually:
Just short of target 2 and trailing SL got triggered. Still 200 pips so not complaining.
TP 3 out of reach after Uncle Draghi's comments today.
TP 3 out of reach after Uncle Draghi's comments today.