Pinbars formed at clear resistance level in a downtrend. On 4 hr a doji has formed. Stoploss goes below last high, profit at a clear support level with stops moved to breakeven at around 50 pips. Hold your thumbs!
The 2000 and 2007 down trends seem to have really started when the blue Stoch RSI line crossed below 20, which seems to just occurred here. Will a downtrend start in the next two months instead of September? Stay tuned! Same bat-time, same bat-channel!
After a swing to the upside and a failure at 1.10000. We can the euro to continue back to the downside over the next 2-3 week hitting the round number 1.00000.
After profit taking we now find ourselves with a great setup to re-enter the market with new positions.
I just longed the USDJPY at 106.920. Drawing a support line on the 4hr chart, along with the Fibonacci Extension, the target profit for this trade will be at 109.720. Join us on Facebook at www.facebook.com