This was formed from a breakout of the previous UP trend channel and already bounced off of the weekly S1 pivot line to retest the bottom of the previous trend channel. This forms the top and bottom of the next down trend.
An early TP opportunity would be at the S1 level when it touches again incase of another bounce.
An early TP opportunity would be at the S1 level when it touches again incase of another bounce.
Note
Missed this big move due to all my monies locked up in GBP pairs. This move reached the early TP at the S1 level ~ 0.7222Still looks like more to go.
Trade closed: target reached
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Related publications
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.