Here's a trade setup that I was looking at earlier today.
Unfortunately I missed out on the big move due to work commitments, but no matter!
I'm interested to see how price reacts when it reaches the next key level @ 116.200.
There's a few scenarios that could play out here, I'll break them down below.
Scenario 1
We see a move past the last peak and a continuation upwards, we'd be looking at a target around 116.900.
Scenario 2
We enter a ranging market and we try to avoid trading as there is no clear direction. We could also see a huge reversal to the downside which we could catch some nice profit from.
As always, we will see what price wants to do! :)
Unfortunately I missed out on the big move due to work commitments, but no matter!
I'm interested to see how price reacts when it reaches the next key level @ 116.200.
There's a few scenarios that could play out here, I'll break them down below.
Scenario 1
We see a move past the last peak and a continuation upwards, we'd be looking at a target around 116.900.
Scenario 2
We enter a ranging market and we try to avoid trading as there is no clear direction. We could also see a huge reversal to the downside which we could catch some nice profit from.
As always, we will see what price wants to do! :)