Doesn’t look very strong. Could it continue its travel within that channel? Maybe…
Maybe it will finally close the gap, which was formed after the 1st round of the French election.
Personally, I would like a:
SELL – around 1.08700
Take Profit – take half of the position off,if it will close the gap, say around 1.08 and leave the other running till the bottom of the channel.
Stops – 1.09.
Another scenario would be, if it will reverse to the upside now, hit that previous small trend from underneath, take all the stops out, and then head south to close the previous gap.
As always, keep an eye on the price action!
Maybe it will finally close the gap, which was formed after the 1st round of the French election.
Personally, I would like a:
SELL – around 1.08700
Take Profit – take half of the position off,if it will close the gap, say around 1.08 and leave the other running till the bottom of the channel.
Stops – 1.09.
Another scenario would be, if it will reverse to the upside now, hit that previous small trend from underneath, take all the stops out, and then head south to close the previous gap.
As always, keep an eye on the price action!
Comment:
NO LONGER VALID.
Comment:
16.05.2017 UPDATE - NO LONGER VALID.