Marked by the blue arrow, we expect to see a small retracement in price to roughly the top of the support/resistance zone marked by the two red lines. If the retracement fails to break below this support zone we expect to see a decent rally to the previous level of support now turned resistance (also a 61.8 retracement of the A-B leg of the AB=CD pattern that might be forming). If we see this happen we will enter into a long position with our targets set to the C point of the AB=CD pattern or roughly a 61.8 retracement of the A-B leg.
This idea has been signaled by our Unique Forex forecasting indicator; which uses our proprietary algorithm to predict future price action. Unlike your standard lagging indicators, our indicator predicts future price action in real time. Anyone is welcome to try the indicator out for themselves for free by visiting our website www.forextrading.unique4x.com/
This idea has been signaled by our Unique Forex forecasting indicator; which uses our proprietary algorithm to predict future price action. Unlike your standard lagging indicators, our indicator predicts future price action in real time. Anyone is welcome to try the indicator out for themselves for free by visiting our website www.forextrading.unique4x.com/