Makeyourmoneywork4U Trade Idea
Pair: NAS100 USD USTEC
Position: SELL
Timeframe: D/4HR
STOP LOSS: 12260
TAKE PROFIT: 10000
Reason for trade: This pair has followed the ABCD pattern on the daily timeframe (see the yellow dotted line) and as per our strategy the price has come back to retest the C point with a lower high.
Now expecting price to move down to around the 10000 level (1.618% fib)
Also the daily candle closed as a Hammer candle on Friday which is another indication of a trend reversal.
Trade with caution and use proper risk management, there may be a gap on opening due to all the election news
Pair: NAS100 USD USTEC
Position: SELL
Timeframe: D/4HR
STOP LOSS: 12260
TAKE PROFIT: 10000
Reason for trade: This pair has followed the ABCD pattern on the daily timeframe (see the yellow dotted line) and as per our strategy the price has come back to retest the C point with a lower high.
Now expecting price to move down to around the 10000 level (1.618% fib)
Also the daily candle closed as a Hammer candle on Friday which is another indication of a trend reversal.
Trade with caution and use proper risk management, there may be a gap on opening due to all the election news