Here we see the MA'S confluence of the 4H, D, & W time frames all bearish now, also have a close underneath the monthly support which is now resistance. this gives us a 75% chance to hit the next weekly support before any bullish potential. close underneath a daily trendline as well, and ready to descend in this descending wedge. Target is 141.100 -140.100. risk is 86 pips for a reward of 353 pips.
Trade closed: target reached:
We have reached our target zone and can now close the trade. I've closed at the 2nd wick which showed a tweezer bottom for a total of 315 pips! Enjoy the pips and stay tuned for more set ups!
Trade closed: target reached:
Target reached. =D
