This pair seems to be exiting a period of consolidation from 6 Aug 2019. Prior to that, it had been in a DT since 16 April 2019. As it is exiting the consolidation, a cross in the 21 and 78 EMA’s has formed. If it breaks and closes above the SR @ 72.930 (last LH in the DT), I’ll be looking for a long trade as shown, with the SL at the 78 EMA level. The trade as shown gives a RtR of 1.89.
I marked the RSI and PA trendlines for reference, but I am not yet sure about their validity.
I marked the RSI and PA trendlines for reference, but I am not yet sure about their validity.
Trade active
* RSI did not break trendline* 21 - 78 EMA cross
=> Small trade per SR's for TP and SL
=> RtR approx 1.3
Trade closed manually
Trade closed manually. Approx $32.33 win. Missed recent high point of PA near TP. RSI break forming.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.