Hi mentees,
We are seeing this pair push lower with the bullishness of Gold today.
Price is clearly in early accumulation right now, but we are not seeing any signs of bullishness yet.
Apart from looking at the price, we can also trade by the time factor.
the TP/SL on this trade is based on the vertical line (17 Dec) intersecting the accumulation channel.
We are also seeing a downtrend reversal pattern forming on the H1 chart, although it is not as reliable.
This has a RRR of 2, which is a decent trade.
All the best.
We are seeing this pair push lower with the bullishness of Gold today.
Price is clearly in early accumulation right now, but we are not seeing any signs of bullishness yet.
Apart from looking at the price, we can also trade by the time factor.
the TP/SL on this trade is based on the vertical line (17 Dec) intersecting the accumulation channel.
We are also seeing a downtrend reversal pattern forming on the H1 chart, although it is not as reliable.
This has a RRR of 2, which is a decent trade.
All the best.
