The area shaded green was a good resistance for the most part of October and towards the month end we had a strong thrust of momentum that broke out of this zone. We then had a test of this zone which ended in a good green candle,a good sign of rejection and enough for us to take a trade for continuation of the upward movement. The lagging span literally bounced off the daily kijun. The long term goal of this trade is to reach the monthly tenkan area shaded blue.
Entry: 3 small positions @ 0.9015
SL: 0.8948
TP1: 0.9096 (previous high)
TP2: 0.9147
TP3: 0.9215 ( Monthly tenkan area)
Entry: 3 small positions @ 0.9015
SL: 0.8948
TP1: 0.9096 (previous high)
TP2: 0.9147
TP3: 0.9215 ( Monthly tenkan area)
