Its all about R:R
Chancing a long at 1.0510 SL 100 pips TP at 1.1000
we had a 13 candle countdown (Demark) on the Monthly chart.
When this countdown works it tends to spot a trend reversal ( We had also a 9 count during January 2015 which actually failed to reverse..)
If it pans out we should get a run to 1.10 area
Yes, it is counter trend and counter FA, but I think the market has already priced in the March hike and since everyone is on the boat to the same direction its going to tip over.. we need up before down.
Good luck to all
Chancing a long at 1.0510 SL 100 pips TP at 1.1000
we had a 13 candle countdown (Demark) on the Monthly chart.
When this countdown works it tends to spot a trend reversal ( We had also a 9 count during January 2015 which actually failed to reverse..)
If it pans out we should get a run to 1.10 area
Yes, it is counter trend and counter FA, but I think the market has already priced in the March hike and since everyone is on the boat to the same direction its going to tip over.. we need up before down.
Good luck to all