DislikedHi all.
Big Boss has been in a down trend since December last year but is now at major psych support level of 1.26. However it has broken through this level and dropped to 1.2143 during the crazy trading last week but then retraced. Everything is still pointing down however
On the Boss the break through 1.26 and retracement is clear.
On the Worker price retraced for 3 days, has once again punched through the 1.26, this time in the opposite direction (almost making contact with the 20 EMA). Price also penetrated the 50%...Ignored
I'm no expert But I tend to agree with you.
I am currently asking my self reasons why not to take the trade should todays bar end similar to how it is now. The stop at over 300 pips is one, So I may only demo trade it.
I see resistance at 1.2350/80 so I would place my entry below there.