I mentioned the wedge breakout a few days ago.
This might be a AB=CD move
Often there is a reaction (up or down) at the half way point; 870
Target is 1087 on this move.
I lean to the upside in part because of the touch and rapid retracement of price to the CD line a few hours ago
An entry now would require a large stop below the spike low at 800
Risk is 60USD
reward is 227
R:R ratio 3.78
so position size is important
This might be a AB=CD move
Often there is a reaction (up or down) at the half way point; 870
Target is 1087 on this move.
I lean to the upside in part because of the touch and rapid retracement of price to the CD line a few hours ago
An entry now would require a large stop below the spike low at 800
Risk is 60USD
reward is 227
R:R ratio 3.78
so position size is important
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