Pattern: Bearish engulfing
West: Previous support becomes resistance, 2x touch
Risk/reward: 1:1.4
Target 1: Bullish engulfing pattern
Target 2: Recent low.
West: Previous support becomes resistance, 2x touch
Risk/reward: 1:1.4
Target 1: Bullish engulfing pattern
Target 2: Recent low.
Trade active:
Price action make a significant move in our favor and approaching my first target.
A spinning top print confirming minor support.
Overall trend is still down.
Hold for now.
A spinning top print confirming minor support.
Overall trend is still down.
Hold for now.
Trade active:
Take out my first target @ the blue line.
It did breakdown that line, plan to move stop to breakeven.
It did breakdown that line, plan to move stop to breakeven.
Trade active:
On Monday, I will place stop just above 1.00964 (blue line) to lock profits. Maybe dial down to 1 hour to locate intraday major resistance and place stop there. If price continue to trade lower it can hit my primary target.
Trade closed: target reached