Inverse "Cup and Handle", good opportunity to ride trend

2017년 6월 30일

Price is forming a inverse "cup and handle" pattern. This is a good opportunity to ride the down trend if you miss it. Currently price is making a correction (which is the handle), and I will wait for bullish candles to appear before I place a short entry, preferably if price can break the POC at 0.6999. A good place to TP will be at around 0.6893.

2017년 6월 30일

코멘트

Similar to AUD/NZD, but in this case price is still bullish and will wait for a few more candles to play out.

2017년 7월 3일

코멘트

Price seems to be ranging from 0.703 and 0.696 in the daily TF. Do not aggressively short for now. Expect the next few days candles to range. If short, can look to TP at 0.696 first or look to trail your SL.

2017년 7월 4일

코멘트

Price has reached the POC where it got resisted a second time. Price is now in the middle of trench and is not a perfect area to enter. I will see if price can go back to retest 0.704 level to short it down where I can put my SL above the trench.

2017년 7월 4일

코멘트

Price is retesting the 0.704 level again which as resisted well twice. If this level still cannot break through, I think the energy to go down should be higher.

2017년 7월 6일

코멘트

Missed the opportunity to enter when it was at 0.704. Too late to enter now. Prefer to enter if price is to return to 0.7014.