I have drawn two sets of , these are dotted as they only have two contact points each making them only tentative . Three points of contact are required to confirm each which we may see in the coming days.
The first target would be the 38.20 @ 107.567 and the second target would be the daily support @ 107. The 50 is a good possibility but wont be covered in this analysis.
This analysis is more of a technical than a .
- Entry @ 108.9-109.2
- SL @ 109.7
- TP 1 @ 107.6
- TP 2 @ 107
SL moved to BE
Currently 10+ pips in profit.
Being overly cautious can knock you out of potentially good positions so it's good to balance this with not only BE but also considerations to key levels.
My entry into this short was too soon and the market took me out due to my entry.
Patience. Always. Pays.
Total from this trade setup = 26 pips.