ENTRY
The overall trend is currently BULLISH for the
STOP
Upon entry of the trade, we would then place our Stop Loss at the Range Mid-point @ 1.09845 in discipline of protecting capital and keep a tight stop on this one.
TARGET
The current rectangle measures 76.5 pips. Therefore our target on a break of the Upper Range Line is roughly 76.5 pips from entry. That puts our target right around
the round number of 1.11000 - and since round numbers tend to give us levels of resistance - let's back off our TARGET to 1.10990
NEGATION
A sustained break below the Lower Range Line at 1.09500 would negate this perspective and we head back to the charts to find a new pattern and entry.
SUMMARY
We are BULLISH on
Look to get Long at 1.10250 with a tight stop at 1.09845 and a Target of 1.10990.
Comentário:
Had a short dip outside the rectangle, but price is moving back into view again. We will keep this order open to see what happens over the next few sessions.
Trade ativo:
Trade initiated with break of 1.10240
Trade fechado: objetivo atingido:
Target Reached for full profit.