DislikedPlan for this week: Keep buying for a move to 1.11- 1.12. The most important thing to bear in mind is whether next move down is corrective in nature. The area of 1.0915 should not be broken and by that I mean closing candles. Break of that level will be suspicious and I will start scaling out of new longs. I want to add longs at 1.0933 down to the above mentioned level. In this case the stops should be just below 1.09. The Forex market is a very fast changing game, it is important to react as you see change, therefore a plan is of the utmost importance....Ignored
Next step (assuming bed of roses scenario) is riding the retracement.
First level of interest will be 1.1160 where first leg of retracement should finish, from there I will buy for momentum trade targeting 1.1209.
After that will add more shorts for the second leg down to 1.1050-00.
Let's see if we get all these moves done!!
We watch the charts from every angle so you don't have to!!
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