The price is currently retesting a pretty strong level @ 2.54-2.65. There is a lot of evidence making me believe we could be seeing a strong move back up to the 3.38 level. 1) Weekly Stochastic Oversold 2) Shooting star candle on the Weekly 3) Price has completed leg B of a potential Flat correction of the most recent impulse down. 4) Double bottom
My personal details: Long @ Entry: 2.58, SL: 2.30, TP: 3.35, RR: 3.35
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.
MERRY X-MAS EVERYONE! :)
Komen
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Take-off over time for a sell off? Downtrend confirmation after huge bear candle