Good morning, Its been a great year and the year 2023 looks blessed. -We can see higher highs and higher lows hence upward trend -We also see a pretty nice bullish kangaroo tail printed on a strong support zone Happy trading come next year.
Just experimenting with the Kangaroo tail trade setup, I am not sure if it is still valid or not as the levels have not been breached. will wait till the stop loss level has been breached before I cancel the trade or it triggers and stops out.
1. Occurring at a zone 2. All parameters met 3. At an extreme
Kangaroo Tail on the weekly chart. (Ref: NAKED FOREX book). Its basically a pin bar with certain conditions. Price may correct to 1.5000 levels if deeper correction then 1.3000
GbpUsd is bearish, and it will remain so for this month. I believe lows will be reached in monthly support zones. In any case, this trade is short term aiming the first TP on previous recent structure. Furthermore, the kangaroo tail has printed before the breakout as the doible top formation was formed. Ask questions & Give...