So a very similar trade to our last one which was posted earlier which we cut our losses from: (What goes up must come down)
So what we can see here, the British pound has spiked throughout all currency pairs today which is the 04/02/21.
The main cause to this i believe is 'BOE Rapid U.K Rebound Following Johnson's vaccine push' headline news.
But as we can see...
USDWTI H4 - Monster RR on this one if we can find resistance on the support zone we have just broken... WTI is more impulsive than confirmative, so often very fast moves are seen without 2 stage or multiple retests. 618 to 786 ties in nicely with corrective fibs from week open down to current price (resistance retest point).
USDCAD has climbed back up to daily resistance and is now starting to reject, this is a nice price action setup. I have a free telegram channel where I will be posting my trades for the week. DM me if you want to make some extra money.
PLG hope or death. PLATINUM GROUP METAL shares have seen better days as well. But they are not the ones. The exchange rate has been in a decreasing trend for a long time. The time for a technical rebound is coming slowly. It is equally a question when the decreasing fractal wave structures and the increasing fractal wave structures are changed based on the same...