Price has found its base around 107.80 and moved up and re-tested the ceiling of the box yesterday.
We were looking for a reversal pattern inside the box. This provided evidence that price is establishing its up flow, further more we already have higher high and higher low. 111.00 would be the immediate target.
[Friday update]
The plan did not work out. Took a small position to long when price retraced to 109.00. Hung there for several hours and eventually abort the trade with small losses and long GBPUSD instead. Again, the read of the market is wrong, but manage to earn some profits and reverse the trade to short.
0 comments:
Post a Comment