From the previous post we can see that the intraday sell limits wasn't triggered. Small update on the pair as to what to watch out for in the next trading day as the sell limits are deleted and we take a closer look at current price action.
We can see that a consolidation has formed on the 1H time frame. What we will be looking for going into this trading day is a simple breakout and retest to get in to either a buy or sell.
However price is at a good support that was previously resistance so we need to keep that in mind.
scale into the 15M and 5M charts to get an entry and see the retest while lowering the risk exposed. Targets are given with the arrows placed on the chart for both sides of the breakout.
Enjoy the profits guys and keep an eye on this chart as a really good move is aligning itself at the moment.
We can see that a consolidation has formed on the 1H time frame. What we will be looking for going into this trading day is a simple breakout and retest to get in to either a buy or sell.
However price is at a good support that was previously resistance so we need to keep that in mind.
scale into the 15M and 5M charts to get an entry and see the retest while lowering the risk exposed. Targets are given with the arrows placed on the chart for both sides of the breakout.
Enjoy the profits guys and keep an eye on this chart as a really good move is aligning itself at the moment.