1. I have PB in the direction of the trend on Daily chart. 2. PB rejected 21 EMA. 3. Closed above event area of 1.63851. 4. Next resistance is 1.68000, there is my TP, 300 pips or 1/3 RR. 5. The pair is broke out of range after 1.63851. 6. I have 5 edges so also 51% chance. We will see.
תגובות
aa3381
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Closed at 1.67500. Wait now for bounce against the resistance and retracement to 8/21 EMA or a countertrade if 1.68000 gets rejected.
aa3381
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Thanks for your advice, but I do not use any indicators except for EMA's as dynamic S/R. Thats my method, pure Price Action.
fximperija
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Well, you should. Just a friendly advice, GBPCAD took a nose dive, banked about 1400EUR on this one. The RSI shows you what the market will do. If you have a divergence with the RSI, you should respect that.The retrace from the last leg up is currently on the way to 38.2, 60+ pips.
aa3381
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Hi, I only use EMA's as you can see, so I cannot answer your question, unfortunately.
fximperija
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Did you see the strong bearish divergence? RSI for example?