In the short term, maybe. But I'll be very wary as well, as the rejection a couple of minutes ago at .9200 is very weak. Price is still howering around the 90 region, and it looks like only a matter of time before it breaks.
It's now trading above the hourly Gann, and I will be expecting it to test the 4H Gann by the end of the trading week today, possibly even breaking it for a run up next week.
Whatever it is, I'm not closing any of my long positions before weekly Gann is broken.
It's now trading above the hourly Gann, and I will be expecting it to test the 4H Gann by the end of the trading week today, possibly even breaking it for a run up next week.
Whatever it is, I'm not closing any of my long positions before weekly Gann is broken.
DislikedI dont do that, There is a Support turns resistance at .9200 , the 5 min charts shows an ending diagonal (rising wedge) pattern which is bearish in very short trem, the better Risk to Reward Ratio, is Sell at .9190, agianst .9200 with a 20 pips SL and 30-40 pips TP,
Aternativey you can have a Buy Stop Order at .9210-20 in case it beaks above the resistance level
or have Limit Buy Orders at .9160-50 agianst .9130Ignored