Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Single currency is still in the triangle I’ve mentioned almost a week ago and I’m looking for a possible bounce around 1.3300 to go short or maybe a breakout to the upside from there.
1.3300 is now the upper bond of the symmetrical triangle and also 200sma, so it’s an important level to watch.
Price is almost near at the apex of the triangle indicating a possible breakout is close. Last upside move in this pair is showing this breakout might be to the north but I don’t want to predict the market, so I will wait for a breakout to the upside or a possible bounce off the upper bond and then a breakout to the downside.
If I saw a bearish H4 candle which was rejected from 1.3300 then I will be a seller at that point and will hold my position until it reaches the beneath bond and will go short after a breakout to the downside.
So any breakouts are possible now and stay tuned for any signals I’m going to tweet.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Latest posts by admin (see all)
- Average True Range Indicator: Using it Profitably - August 15, 2017
- The Power of Divergence: How to Predict the Future - August 14, 2017
- Forex Video: Trailing Stop or Hard Take Profit? - August 11, 2017
Winner’s Edge Trading, as seen on: