Hello traders,
Over the last week, the pair has shown some intent to stay on top of the wedge and thats a good sign for the upward continuation. I believe that it is time to move our stop higher and save our profits. After testing the previous consolidation at around 1.2360, the pair has formed another support area for us. It is around 1.2432.
I suggest that we move our stops from the middle of the wedge to somewhere below this wedge now. Maybe around 1.2410. That way, if you had gone along after my first long call, you can have 140 pips if this fails and in case you entered at the breakout of the wedge, you can look at a breakeven.
But remember, for the idea to fail, there must be a close below the new support area around 1.2430!
So, please do not enter a S/L on your trading platform, i would recommend monitoring manually and then calling the shot
Over the last week, the pair has shown some intent to stay on top of the wedge and thats a good sign for the upward continuation. I believe that it is time to move our stop higher and save our profits. After testing the previous consolidation at around 1.2360, the pair has formed another support area for us. It is around 1.2432.
I suggest that we move our stops from the middle of the wedge to somewhere below this wedge now. Maybe around 1.2410. That way, if you had gone along after my first long call, you can have 140 pips if this fails and in case you entered at the breakout of the wedge, you can look at a breakeven.
But remember, for the idea to fail, there must be a close below the new support area around 1.2430!
So, please do not enter a S/L on your trading platform, i would recommend monitoring manually and then calling the shot
