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this is a long position i took and forgot to share with you lot.
As you can see a wedge was forming at the middle of 2016 and we saw it come through all the way to about the start of November where we saw it break that and create an uptrend which at that point i saw the price break and set a order just above that top wedge line. then used the 236 retracement ...
as you can see from the chart that the pair has been in some sort of channel in between 1.06000 and 1.03800 area since the 14th december so we could see a big break out to the upside or downside depending on what confirmation we have closer to the time of the breakout. so this pair is definitley on my watchlist. also the RSI is pretty neutral at the moment so no ...
from my previous post on about the different possibilities depend how the hourly candle turned out, i was never long on this pair because im sure we will see it reach the 618 retracement level, but as everyone knows the market doesnt always go the way that you planned
if we see the price close above the resistance line then we could be in a position for a long, but if it bounces of resistance there could be a chance for a short.. patience is key!