Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
I had got another analysis for this pair on 15th Nov. you can see it here.
Now in the figure above this pair is in an ascending triangle and 1.6300 resistant line is still in the action as I mentioned 2 weeks ago.
Price is exactly now at the beneath bond of the triangle and I like to go long now at 1.6155 with a tight stop at 1.6125. First target is at 1.6225 and second one is at 1.6300. I expect a breakout on 1.6300 level and a bullish run on this pair, but have to wait and see.
For trading ascending triangles you should go long after a breakout and put a pending order at 1.6330 to go long.
In the other hand if price went below the beneath line and reached our stop then stand aside and wait for a better price to go long.
I’m going to write a fast update about this pair if any breakout we had, so 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.
Winner’s Edge Trading, as seen on: