Hey guys,
just wanted to show you how top down analysis can create day trading opportunities. I fully explained in my previous idea (attached beneath) why i'm expecting price to reach 85,50 level (reversal zone) so i can go with the trend assuming it will stop there.
Here we have a simple pattern formation that usually occurs in trending markets, formed by an impulse leg and then a small period of retracement in a shape of a flag.
You can trade the break and close, or you can wait for a little retracement and then sell at market, in order to have a better risk to reward ratio (that's what i would do).
First target should be put at the most previous lows, second target with my bigger perspective, should be put at 85,50.
Let's see.
If you want to ask questions or share your standpoint, feel free to comment below.
Otherwise, see you in the next chart!
just wanted to show you how top down analysis can create day trading opportunities. I fully explained in my previous idea (attached beneath) why i'm expecting price to reach 85,50 level (reversal zone) so i can go with the trend assuming it will stop there.
Here we have a simple pattern formation that usually occurs in trending markets, formed by an impulse leg and then a small period of retracement in a shape of a flag.
You can trade the break and close, or you can wait for a little retracement and then sell at market, in order to have a better risk to reward ratio (that's what i would do).
First target should be put at the most previous lows, second target with my bigger perspective, should be put at 85,50.
Let's see.
If you want to ask questions or share your standpoint, feel free to comment below.
Otherwise, see you in the next chart!
