Well my trade finally went through, and it did exactly as I planned. In the image above you can see the coral colored line was the low from yesterday and when it broke price went straight down to my target. I went ahead and closed my trade but it would have been an acceptable play to move the stop to a profit level and see if the support broke. If support at 0.8815 has a sustained break expect price to carry on down to the S3 level, which today is 0.8775. New Zealand has it's building consents release at 4:45PM today so there might be some opportunity for a little Asian session trading on the Pacific pairs.
5:18PM - Update
There was a little break below the S2 line but it didn't keep going. Instead there was a healthy bounce back to the early AM levels below the pivot line. Could have another push lower this evening or overnight. Pretty much the same parameters of the earlier trade.
Tim, I am glad that you understand what you wrote in the above paragraphs because it is like reading Chinese to me. Just be smart in your trading. I am praying for you today that God gives you the wisdom and discernment you need to trade in a way that will honor Him. I love you, Dad.
ReplyDeleteThanks Pops! If you want to learn a little about this you can go to the site on my links, on the right bar, called Baby Pips. They have a little forex school you can go through and it gives you all the basics. It's actually really interesting and pretty short.
ReplyDeleteAgain thanks for the prayer :) Love you too!