Fibonacci Trading And Price Action
Updated
I don't have a setup for this pair yet other than watching it move as I can still identify a price sensitive cluster that is stuck in there corresponding to a previous overhead resistance. create.
If the price breaks above this cluster I will look for setups on the buy side.
Otherwise I would look for sell setups.
The forex market is really sensitive to economic news so sometimes it can be difficult to set up a trading position, it's completely different from stocks or US30
If the price breaks above this cluster I will look for setups on the buy side.
Otherwise I would look for sell setups.
The forex market is really sensitive to economic news so sometimes it can be difficult to set up a trading position, it's completely different from stocks or US30
Note
Don't jump into short selling EUR/USD. Currently, there is no signal to jump into short selling and the buying force is still very strong.I think I should wait another 9 hours for ECB information
Note
I continue to see the USD weakening as the trend identification system I established on the H4 time frame provides short selling on USD/JPY, USD/CHF, and buying on EUR/USD, AUD /USD.I think the greenback will fall further after the US releases their retail news tonight along with Canada providing CPI information.
Do not act too soon and recklessly, the trading path will be very long and accompany us for a lifetime.
Note
I just received a buy signal on GBP/USD.The market is scared and the world's major banks are taking hedging action to protect the price of their currencies.
I will check XAU/USD and get back to you guys in a few minutes.
Note
WOW, DXY has created support if this level is ok through the US session, I think everything has turned around
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