Trading plan: 51.2022
Summary:
Despite the fact that we had a very bearish candle last Thursday and a bearish week last week, the strong bullish trend D1 is still intact.
LONG positions are preferred, but we can have a short SHORT at 1.21, target 1.1950-1.19 (~200pips).
Analysis:
Despite the fact that we had a very bearish candle last Thursday and a bearish week last week, the strong bullish trend D1 is still intact.
LONG positions are preferred, but we can have a short SHORT at 1.21, target 1.1950-1.19 (~200pips).
Analysis:
- MN1: Last month, MN1 had a very bullish month, so I think we might have another bullish month. Plan: LONG
- W1: Chart on W1 doesn't look nice. We're still in a bullish trend, but the momentum seems to be weakened. A small pullback is very likely. Plan: SHORT
- D1: Price did a pullback with a strong bearish and a small candle near minor support at 1.2120. It shows the pullback might stop there. Note that D1 EMA20 is also near 1.21. Price could bounce from here or break this level and target 1.19 (also D1 EMA50). Plan: WAIT (Neutral)
- H4: Same as D1. Plus, EMA20 tends to cross EMA50, signaling a further drop.
Place to short: Signals at 1.22.
Place to long: Signals at 1.21 or real break 1.22.
Plan: SHORT - News: We don't have strong impact news coming next week. Plus, we are on a holiday week. So price might not move strongly or just go sideways.
DXY : W1 not good, D1 tends to have another bullish day, H4 some another higher move to near resistance, 105.50. Plan: SHORT for GBPUSD as H4 plan.
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