Its not a great day to be trading. This is one of the lowest volume weeks of the year.
However in the pound against the dollar i have spotted a high probability pattern which has been confirmed by a bar chart micro pattern. Its a setup that i teach in my forex course and we call it an Eva Mendez trade. For obvious reasons it a very hot setup and i would expect the cable to fall hard this afternoon.
Cable is trading at 1.6002 at 1300 gmt . I would expect the cable to fall to 1.5835 over the next few days . It needs a stop loss of about 75 points ie at 1.0675. This means risking 75 points to make 165 points which is fine for a swing trade.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment