Hello traders! Let’s look at today’s daily analysis. We see a double bottom that formed (not perfect) but if you go in the higher time like the 2 hour time frame you can also see it perfectly reject at 1.5707 and then it went up. Not only that but we see confirmation as it came back for the retest and rejected.
This zone we are in is a zone it hasn’t been at since last year. Whenever there is a zone this far back there needs to be validation so it needs to move up to the last zone which could be the 1.16500 zone but we won’t take it that long since it’s the end of the week and the end of the month.
Let’s talk about yesterday. I was wicked out in profit at the range I posted. So I posted where I was taken out. If you held it would’ve hit TP. On days like yesterday for me it’s more important to retain my capital rather than make money. But today is different, I am much more confident in this move up. If you like this post follow for daily analysis.
This zone we are in is a zone it hasn’t been at since last year. Whenever there is a zone this far back there needs to be validation so it needs to move up to the last zone which could be the 1.16500 zone but we won’t take it that long since it’s the end of the week and the end of the month.
Let’s talk about yesterday. I was wicked out in profit at the range I posted. So I posted where I was taken out. If you held it would’ve hit TP. On days like yesterday for me it’s more important to retain my capital rather than make money. But today is different, I am much more confident in this move up. If you like this post follow for daily analysis.