Market structure was broken yesterday on the daily time frame. It is clear on the 4 hour time frame to see a double top formation at the 1.127 level. We saw the pair plummet down to the 1.122 which is a well respected support and resistance zone. A clear break straight through this level and retest has now occurred. Take profit set at the 1.112 level which is a...
euraud daily shows a channel. 4hr and 1hr shows a smaller channel within daily channel. 15 min shows all the correctional moves and where price will move likely.
waiting for price to make another correctional phase so I can enter.
Entry - 1.2600
SL - 1.2528
TP - 1.12741
If the NFP is below or equal to 120k and Ave. Hourly Earnings is below or equal to 5.4% (in other words, both negative US data), the trading plan is valid.
if the NFP is above 164k and Ave. Hourly Earnings is above or equal to 5.5% (in other words, both positive US data), the trading plan is invalid. I will look for...