Fuchsia zones are HTF value area limits with supply zones from march, green zones are VA limits with demand. Flag movement with black line showing pole and rectangle showing flag. Looking for continuation once tests green dotted line at 1.1285. Exit at top of area 1.1379. 11/22 tick stop. If top gets tested first you could go for the pullback instead of continuation.
Demand zone from yesterday shown at lower time frames (hence the green dotted line entry):
Fib is just for kicks
Demand zone from yesterday shown at lower time frames (hence the green dotted line entry):
Fib is just for kicks
Commento:
EDIT: Actually you could go for 1.1276 for even more tight entry and stops.
Commento:
Scenario 2 (get pullback move first instead of continuation) is going well. It didn't trigger the 11 pip stop by a inch. Safe Target could be 1.1309 for a good R but I expect to go 1.1285 sometime in the near future
Scenario 2 (get pullback move first instead of continuation) is going well. It didn't trigger the 11 pip stop by a inch. Safe Target could be 1.1309 for a good R but I expect to go 1.1285 sometime in the near future
Commento:
Forgot to say: if you're not "set & forget" trader you could just as well wait for failed tops and retests, we got 2 rejections and failed tops at red square above and then a retest of those candles at first red arrow, even a retest of the whole price area at second red arrow before finally giving up.
Commento:
Adjusted target before FOMC to previous highs, but FOMC ruined everything haha it just a few pips short. Got out at stop gain
Adjusted target before FOMC to previous highs, but FOMC ruined everything haha it just a few pips short. Got out at stop gain