Triangle did the job. Wasn't around to trade it.... Now getting at possible support from trendline (subjective...) and 1.27 ext. Correction expected in this region, getting oversold, could extend to 1.41 or 1.618.
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Trendline broke also, forming a new corrective structure it seems... more downside could be coming... Daily bearish bat TP1, which I traded, could be next stop...:
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NFP spike, but no follow-through, now on this...:
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hikagemono
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Looks like it's heading north again. Just a hunch.
KVE
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Yep, looks that way:
hikagemono
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Are you sure it's not reversing and heading north again?
KVE
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No of course not, I can't predict the future, no sure things in trading! For every idea I have a 50/50% chance of being right and over time it might even be so that I'm not even right 50% of the time but I'm still able to make decent profits because of good money management i.e. only taking trades with good R/R.
The only thing anyone can ever do is try and interpret what is going on and find setups for what one believes is most likely to happen and which have decent R/R so that one grows his account in time.
Anyway, I'm short from almost the top, I already added a short along the way and I'm trying to add once again to the position until I reach my first target. If it reverses here and hits my SL I will have still made profit from the previous entries...
On the last update: If you wait for confirmation of this possible breakout you can slightly improve the odds, rather than entering gight away which I did.
Qasimshahzadgt
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good dear
KVE
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All about trend continuation! Next stop my first bat TP..., I hope... ;)