This is the start of my fourth week trading so I'm open to hearing any other ideas and tips for a better analysis. Upon analysis I can see that the downward trend is quite strong. AXY has the potential to reach 70 this week and seems to be quite a strong pair at the moment and this pair has already given me decent pips last week. There has been a lot of Volatility in this pair but it is forming lower highs and lower lows currently. The 4h chart to me suggests that a TP1 of around 1.808611 (around 60 pips from current entry and around 80 pips from my entry). I was sceptical to publish an analysis on this pair because of the volatility but i took a chance i saw with good risk reward and it is currently running 20 pips in profit. I used the 30 min chart to find a good stop loss and have monitored the trade closely and will still be monitoring the trade closely throughout the course of today and possibly the week. I see potential for a longer term TP being reached of 1.80212 or even 1.77989. I believe there is still possibility for a couple pull backs which i may look for, perhaps an extra entry or two on this trade. If you are currently not entered on this trade then this is where i would try and enter using the 15m chart. Please do your own analysis and if you decide to take the trade use appropriate reward.
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