Well done to those who bought 1.2455. Now eyeing 1.2550.
For those who read Monday’s report you may recall our team stating that should the H4 Harmonic bat pattern complete at 1.2455, we will be interested buyers here. As you can see, price tested the 1.2450 region beautifully and rallied higher. Well done to any of our readers who jumped on board alongside us here.
We executed a trade at 1.2455 and initially had our stop at 1.2411. Once price struck August’s opening level at 1.2497 (one times the risk), we moved the stop to breakeven. Ultimately, we’re looking for 1.2497 to hold as support and eventually push up to the 1.2550 neighborhood to take partial profits.
Suggestions: For those who missed the initial buy at 1.2455, you may, seeing that weekly price is bouncing from a support area coming in at 1.2433-1.2569 (unites with a trendline support etched from the low 0.9633), want to consider buying from 1.2497.
Data points to consider: US Consumer confidence at 3pm GMT+1.
We executed a trade at 1.2455 and initially had our stop at 1.2411. Once price struck August’s opening level at 1.2497 (one times the risk), we moved the stop to breakeven. Ultimately, we’re looking for 1.2497 to hold as support and eventually push up to the 1.2550 neighborhood to take partial profits.
Suggestions: For those who missed the initial buy at 1.2455, you may, seeing that weekly price is bouncing from a support area coming in at 1.2433-1.2569 (unites with a trendline support etched from the low 0.9633), want to consider buying from 1.2497.
Data points to consider: US Consumer confidence at 3pm GMT+1.
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