We took some pips playing the break of trendline #1 . We took the trade using our Swing&Relax strategy on a H4 chart. The false break-out of that rectangle was one of the reasons. Other reasons are secret Technical Analysis
Price is still inside this consolidation rectangle. The rectangle is nicely formed between two important daily horizontal level (what we call Daily Critical Zones). It’s not a surprise so that the price find difficult to break these 2 levels. IMHO this lack of direction is linked to the uncertainty coming out from the Italian Elections. No easy to make a government, EU and markets dont like it that too much.
The Day Ahead
It’s friday, as usual, we don’t trade. I see the price remaining inside the rectangle or not going so far away from this area. Pivots are little bit streched, big gap between D-P and W-P. But of course, remember, you don’t need to predict the future to make money trading the forex. You just need a well balanced and scientific Forex System and stay true to it. Future is impossible to predict. Just fine-tune your entries according to probability. This is the art of trading, not being Nostradamus
High Impact News
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Have a fantastic week-end all!