Cable Yen reached a strong support zone @0.382 Fibo. Assume it's a normal retracement pattern. our long-term target will be set @157.70. SL @146.00. We need to wait for a clear reverse signal like a pinbar or engulfing later today and during next week.
But of course, the retracement could well not stop there and instead turn into another crushing bear. It can also be a potencial breakout short opportunity.
It's a long term strategy. We also need pay attention to Brexit progress and the prime minister's resignation.
Good luck!
But of course, the retracement could well not stop there and instead turn into another crushing bear. It can also be a potencial breakout short opportunity.
It's a long term strategy. We also need pay attention to Brexit progress and the prime minister's resignation.
Good luck!
Comment:
After the Engulfing pattern in Day chart. The trade ran as we hope. Our 1st kick should be at 152.86 (former high).
Trade closed manually