Both technical and macro-economical analyzes (China stats underperform) are predicting a spike on that currency pair.
Trader waited to finally have a good signal on which way the price will drive. It looks we had, as i tought last week, a nice busted pattern in the making (see: thepatternsite.com/BustSymTriangles.html ). Busted patterns are more powerfull than a regular breakout as it takes everybody by surprise. Which explains a lot the huge spike we have right now. Unfortunatelly I wanted to write this idea 12H ago and missed a bit the power of the analyze.
On your left:
You can grasp the highly dynamic medium term move we are witnessing and why the fake breakout was quite important as we were right on the edge of a fibonacci retracement (50%).
On you right:
You can see the details of the busted pattern and weigh the significant impulsion we had today. Making the 4H ichimoku perfectly bullish.
----
Strategy:
* Get long on throwback between 6.17 and 6.147, don't hesitate to have a small market order as well.
* Stop loss under the low (right) around 6.128.
* Target is 3 to 4% higher to last 2013 high around 6.4. On a shorter timeframe, 6.21 is a better target.
Trader waited to finally have a good signal on which way the price will drive. It looks we had, as i tought last week, a nice busted pattern in the making (see: thepatternsite.com/BustSymTriangles.html ). Busted patterns are more powerfull than a regular breakout as it takes everybody by surprise. Which explains a lot the huge spike we have right now. Unfortunatelly I wanted to write this idea 12H ago and missed a bit the power of the analyze.
On your left:
You can grasp the highly dynamic medium term move we are witnessing and why the fake breakout was quite important as we were right on the edge of a fibonacci retracement (50%).
On you right:
You can see the details of the busted pattern and weigh the significant impulsion we had today. Making the 4H ichimoku perfectly bullish.
----
Strategy:
* Get long on throwback between 6.17 and 6.147, don't hesitate to have a small market order as well.
* Stop loss under the low (right) around 6.128.
* Target is 3 to 4% higher to last 2013 high around 6.4. On a shorter timeframe, 6.21 is a better target.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.