With the prime minister heading to the Brussels for a negotiation for the Irish border back stop anything can happen. however if we look at the bright side of things although there is a high level of uncertainty in the market the technicals have presented some long ideas. we are currently 0.5% exposed to this trade due to this fundamental Brexit issue .
now if you look at this from a technical perspective price has had 2 touches on the main trend line. price has also broken and rested the trend Line now acting as a support in the region of 174420. at the same time that zone has some supply going back to aug-sept 2016.
with the fib sequence on which has seen price done bounced from the 50% level .before surging on the break out I see price heading to the 61.8% confluent with the 17760 handle.
for now its patience and we will see how this plays out. patience and good risk management is key.
now if you look at this from a technical perspective price has had 2 touches on the main trend line. price has also broken and rested the trend Line now acting as a support in the region of 174420. at the same time that zone has some supply going back to aug-sept 2016.
with the fib sequence on which has seen price done bounced from the 50% level .before surging on the break out I see price heading to the 61.8% confluent with the 17760 handle.
for now its patience and we will see how this plays out. patience and good risk management is key.
Trade closed: stop reached:
stops were too tight. but targets were met eventually. .. lesson learnt here