NOT A BEAUTY QUEEN
Not the best looking of structures, but the lowering of volatility opens up a great opportunity for a good risk to reward ratio.
A buy at the lower end of the third impulse would give the best RRR
But a safer and more sophisticated trade would be to patiently wait for it to break structure then retest.
What it does have in its favour is strong impulses to the upside, then grinding/struggling retraces, which gives clues to its intended trajectory
1.6 Is a good KLoS (Key Line of Significance)
With the BRICS nations being a major threat to the Dollar, you better believe it wont go down without a fight.. Check Brent Johnson's Dollar milkshake theory
Keep your RRR sensible and leave yourself open for moments of good fortune
J.Knuckles
A buy at the lower end of the third impulse would give the best RRR
But a safer and more sophisticated trade would be to patiently wait for it to break structure then retest.
What it does have in its favour is strong impulses to the upside, then grinding/struggling retraces, which gives clues to its intended trajectory
1.6 Is a good KLoS (Key Line of Significance)
With the BRICS nations being a major threat to the Dollar, you better believe it wont go down without a fight.. Check Brent Johnson's Dollar milkshake theory
Keep your RRR sensible and leave yourself open for moments of good fortune
J.Knuckles
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