In my opinion the pair is now in consolidation mode from yesterdays' impulses which is why I am expecting on more push to the upside all the way up to the 1.1835 level.
I am anticipating the pair to start moving sideways upon retesting yesterday's POC (which also confluences with the 0.5 / 0.618 retracements) before initiating the move up.
I will be looking for an impulse + flag combo on a lower timeframe such as the 3M before considering to enter so stay tuned for the updates. As it stands on the 30M we do have a form of flag forming now which is why I believe the pair could be continuing higher.
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
I am anticipating the pair to start moving sideways upon retesting yesterday's POC (which also confluences with the 0.5 / 0.618 retracements) before initiating the move up.
I will be looking for an impulse + flag combo on a lower timeframe such as the 3M before considering to enter so stay tuned for the updates. As it stands on the 30M we do have a form of flag forming now which is why I believe the pair could be continuing higher.
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
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expecting a rejection off the trendline - should it break I will await for a flag formation along the line before entering
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price broke out of the trendline - waiting for a flag / consolidation pattern
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looks like it was a fakeout - the exact reason as to why i don't enter as soon as the breakout occurs
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Price breaking below the 0.618 - Upside looks unlikely for the moment - if we'll get a push it has to happen with the LSE open otherwise the setup is invalidated
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looks like we are getting a minor inverse h and s on the 1 min. Could this be the start of the push?
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Exactly what we needed! and we have taken off!!
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if you haven't entered wait for a pullback first for better r/r
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beautiful follow through
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price is retesting the high of the Asian session - watching it closely
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needless to say that stops are at, or above b/e levels
Light blue area = Yesterdays' POC + Yesterdays TSE high + 0.5 Fib retracement - could prove to be a strong support area