As you can see, the current market level is sat in my zone.
Similar to the other trade I have recently placed, I am waiting to see
what happens before I make a decision on entering my trade.
Both candle bodies have closed within the zone, which suggests to me
that the buying power is fading and it is respecting the zone a lot more.
Overall I believe the market will drop down to level 1.30480, for a pull
back to around 1.31000.
We MAY also see a potential rise from buying power to then drawback down
to the entry of candlestick.
To then continue to push down towards 1.28900.
SL is being placed above the previous HH wick and TP being
placed on both zones I expect the market to drop down too.
Similar to the other trade I have recently placed, I am waiting to see
what happens before I make a decision on entering my trade.
Both candle bodies have closed within the zone, which suggests to me
that the buying power is fading and it is respecting the zone a lot more.
Overall I believe the market will drop down to level 1.30480, for a pull
back to around 1.31000.
We MAY also see a potential rise from buying power to then drawback down
to the entry of candlestick.
To then continue to push down towards 1.28900.
SL is being placed above the previous HH wick and TP being
placed on both zones I expect the market to drop down too.
TP1: 1.31000 (47 pips)
TP2: 1. 30200 (128 pips)
Risk = 1-2%