Daily and 240 charts the trend seems to be to the downside and is still going short from the completed Gartley sell pattern. $ has dropped through a Demark demand line and both Stoch and Macd seem to have a downside bias. A descending triangle gives a downside bias as well. The 60 and 15 charts sh0wing me $ moving up.
I have a bias to the upside with target at 1.2560 (this would make a double bottom) and 1.2530 (a weekly pivot).
To the upside im watching the 1.2640 daily pivot and 1.2680.
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Just my $.02
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2 comments:
Don't you mean going short to 1.2560 and not to the upside? We knew what you meant, just wanted to give you a hard time. Jon took this trade and hit his first target at 1.2565 and moved stop to 1.2590 and got stopped out. This time he put orders in to buy with a target at 1.2620 and it just reached that. We are moving out stop up to 1.2600. Does that sound like the right move? What you think?
Kim
Sorry, my bad.
Looks like it got to 1.2620 by the pip exactly. I assume you got stopped out in profit...good job.I think anytime you can take some profit, then move your stop to make the trade risk free your doing great.
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