Bias UP, Move UP I have an entry on each side of today's entry, so no need to add another. TP same place.
Price closed back above the simple50 and pivot. Previously, this has been a good thing and often has been accompanied by a retrace. On Aug 26th and Sept 4th, it retraced to the bottom of a mini-channel, on 7 Sep it slowly went down to the swing. BUT, on 10 Sep after hitting the swing low the day before.. price went up without much retrace. This current scenario seems most like 10 Sep, so the theory using our small amount of data would be price continuing up.
I am brand new to trading forex and I have heard that many hits and poking through an area often precedes the breakdown of that area. Well, we have been down poking at the bottom a couple of times, will this keep us from the TP... to be cont'd.
We'll see what happens. If price does go up and gets my TP, I won't enter if it comes back down since tomorrow is Friday.
Price closed back above the simple50 and pivot. Previously, this has been a good thing and often has been accompanied by a retrace. On Aug 26th and Sept 4th, it retraced to the bottom of a mini-channel, on 7 Sep it slowly went down to the swing. BUT, on 10 Sep after hitting the swing low the day before.. price went up without much retrace. This current scenario seems most like 10 Sep, so the theory using our small amount of data would be price continuing up.
I am brand new to trading forex and I have heard that many hits and poking through an area often precedes the breakdown of that area. Well, we have been down poking at the bottom a couple of times, will this keep us from the TP... to be cont'd.
We'll see what happens. If price does go up and gets my TP, I won't enter if it comes back down since tomorrow is Friday.
Be bullish on you.