If you look at your monthly chart, this pair is forming a right shoulder retracement up to the 1.9733 level. A review of the daily timeframe shows that the market broke the downtrend line at 1.8300. This was the buy. I've put in a lot of effort in Trading View expressing this buy. I feel this is a major reversal, only a part of which will be driven by oil. This is more or less due to the potential push north on the monthly chart. The market is moving in a pullback pattern and now we will see the next future high at the 1618 extension at 1.8750 I plan on minimizing risk buy pulling back to the trendline. and keeping the stop on the next move tight. Generally, I risk no less than 3:1. The recommendation is to buy CTL breaks up to 1.8750. I would look for the next u-turn at roughly 184.20 with the stop 30-40 pips below going to 1.8549. Remember when you think about oil more money trades on FX than on oil- more than 5 trillion traded in FX, more than any of the other markets combined. FX market is very powerful, and this is a pattern which I am not ignoring.
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keep going! 18750
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I have removed a couple for 400 pips from the entry. Break even.
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I added to this trade this morning with the pound basket. Let this go to 1.9733. Expect a pullback but there is still plenty of room ahead of us.
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Yep- take this Brexit bounce to 1.9733.
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Took 900 pips this morning. Now running 5 lots from an average position of 1.85. we have more room on this... Let's rock and roll.
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Easiest trade I have taken in the last two years. Hold for 500 more.
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Higher highs and higher lows- stay this into the target... 500 pips up above us...