Possible trend reversal here. We're entering an area of major support on the daily time frame. There is slight RSI divergence. Also, a Butterfly advanced formation completes nicely within the daily support zone.
Trade active:
Took a rather aggressive entry on this based on the shooting star candle on the 1hr and the oversold RSI & Wavetrend Oscillator. Stops placed 10 pips below the 1.414 extension of A-D
Took a rather aggressive entry on this based on the shooting star candle on the 1hr and the oversold RSI & Wavetrend Oscillator. Stops placed 10 pips below the 1.414 extension of A-D
Comment:
1.414 X-A, sorry
Trade closed: stop reached