I just have seen the price bounce from the strong support line on the daily chart. my assumption is that the price will go up. and test 136.45 create a new resistance line and drop from there.
DarrylK87
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@Matl101, Do you think so im in the trade now no coming out lol. Do you think it will hit my target
TradeXMBL
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@DarrylK87, Oh as long as you have a good SL, you should be absolutely fine. Have your SL set to around 137 - 137.5 then it will make your trade invalid and the price will push up. But given the news, it needs a slight retracement to around 136.4 area and then it will plummet down. But you never know it might just plummet down straight away!
DarrylK87
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@Matl101, Thanks for your information it has helped to give me some positivity about this trade. I would rather it just plummet
DarrylK87
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@Matl101, I have the strong support line on the daily at 135.891
TradeXMBL
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@DarrylK87, That's quite tight, given how volatile the market is, it might stop you out. I always set the SL above the support line at least 1 ATR. Always a safe bet, depends on how much capital you're risking :)
DarrylK87
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@Matl101, 2.0 lot size on this. bit of a risk but big reward if it pulls off
TradeXMBL
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@DarrylK87, Yeah in that case definitely have a tight SL. Worst case scenario you can always jump back in. Best of luck, I will be monitoring this pair myself and depending on how this 4 hour candle closes, I will be jumping on this as well
DarrylK87
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@Matl101, How you getting with the trade its gone pretty well hasn't it. Do you think it will keep dropping
TradeXMBL
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@DarrylK87, I just pulled out 70% of my lots for a nice profit. target 133.7 though currently being at a strong 4h support so it may bounce up. lowered my sl to 135.7 :)