Dear Carry Traders,
I successfully created one Long position yesterday. But earlier today, it was stopped out as even.
Well well, let’s move on dot com.
Fortunately, the opportunity seems to be there still.
Here is the Daily chart.
Notice the price has been supported by MPP & 55EMA at Role-Reversal Support zone. Also notice Daily Stochastic just crossed under 25%, and expecting to go up.
Here is H4 chart. The price as been supported by Fibonacci 61.8% & Support zone as well. Also notice H4 Stochastic has crossed at 25% and heading up.
DAILY STOCHASTIC HAS CROSSED UP and
H4 STOCHASTIC HAS CROSSED UP
Well, how about Hourly chart?
Interesting. Hourly Stochastic is up and about to end the up cycle.
It is becoming really interesting. Let’s wait until the down cycle is over with Stochastic. (it will take 6-8 hours?)
Then hopefully, the price will come down to Support zone (80.30 – 80.40).
I think that will be a fantastic Long opportunity.
For the summary…
a) Daily Stochastic just became UP
b) H4 Stochastic just became UP
c) in 6-8 hours, Hourly Stochastic will be in up cycle & hopefully the price will be at SUPPORT !!
I will put the BUY order now @ 80.40 with SL=80.20
Hope this setup helps you develop your own.
YJ Baik – Forex.Today @ OSAKA