WATCH THIS BEAUTIFUL BEAR TRAP UNFOLD ON PESO DURING FED WEEK!!
The NFP put a lot of pressure on dollar squeezing the dollar bull back into the accumulation zone from 19.40 - 19.75.
A lot of bulls still remain in this area and retail sellers coming into the trade late will get caught with there pants down because of bulls lurking to ambush them right below the .50 fib.
I expect price to make a LH ( lower high) and then sneaky bears selling the rally will try and make a LL (lower low). Unfortunately it will fail.
Either we get a fakeout LL , double bottom, or HL (higher low) . Essentialy we are going to retest this trendline and that my friends is where you attack!!
FADE THE WEAK BEARS running for cover placing stop nearby below for a great risk reward trade to the top aiming to take partial profit at 20.00 .
I intend that the FED during the week should provide momentum or give us a little retrace for more bulls to join the party on the ride up.
We will monitor the trade. I think we will break the highs if not price will stall around 20.03-20.10 .
Im a little unorthodox as this is my first post EVER!! Comment and let me know how I did. We will be updating as this unfolds.
I don't always know what I'm doing but when I do...I'm pretty amazing!
Happy Huntin' Happy Trappin'
~BooBii
A lot of bulls still remain in this area and retail sellers coming into the trade late will get caught with there pants down because of bulls lurking to ambush them right below the .50 fib.
I expect price to make a LH ( lower high) and then sneaky bears selling the rally will try and make a LL (lower low). Unfortunately it will fail.
Either we get a fakeout LL , double bottom, or HL (higher low) . Essentialy we are going to retest this trendline and that my friends is where you attack!!
FADE THE WEAK BEARS running for cover placing stop nearby below for a great risk reward trade to the top aiming to take partial profit at 20.00 .
I intend that the FED during the week should provide momentum or give us a little retrace for more bulls to join the party on the ride up.
We will monitor the trade. I think we will break the highs if not price will stall around 20.03-20.10 .
Im a little unorthodox as this is my first post EVER!! Comment and let me know how I did. We will be updating as this unfolds.
I don't always know what I'm doing but when I do...I'm pretty amazing!
Happy Huntin' Happy Trappin'
~BooBii
Looking at equities to sell off today and provide some dollar strength..
I have to admit this is taking forever...