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Week 13: ZSK2021 Wait for a Support BreakLast week the highest price was just at $14.35 ... just a shy $0.05 away from our bomb shell. Anyway it was not triggered and it keeps going down after reaching $14.35 The market was closed at the SR Flip area at $14.00 (see on H4), it was doji and so far no buyers sighted in the market (Asian morning session). Here are the few scenarios : (1) Market bounce at SR Flip ($14.00), likely it will find the previous level which is at $14.09 If $14.09 is broken, it means the buyer is back in the market. (2) The price continues going to South, the last buyer defend was at $13.90 level. This is where we can place our Pending Order (Sell Stop); once it broke, the gravity will help to pull the price going even lower. (3) Certainly, the last scenario is ranging / sideways; this usually happen towards end of the month or a week before WASDE report release. The price may consolidate prior making a big move. This week, I will go for scenario #2 where I will place a Pending Sell Stop Order. Stop Loss is at $14.20 Pending Order (Sell Stop) is at $13.90 Take Profit is at $13.22 RRR: 2.27R If you are well versed in Price Action, we can take the opportunity to scalp during the week. Have a good weekend ahead, this week is a short week. If no clear setup, just avoid it, enjoy your Easter holiday.
CBOT:ZSK2021Short
by machintose
5
theta continuation conreection short scalp/swing monthly pivotWeekly pivot and monthly pivot both developing lower. Of course it could rise prior to their closing time. However they will lmost always revert to that far untested pivot following. One could buy the dip upon testing it or short swing to it with a average cost up in case it rises more leading up to the CLosure. Tarrget would be where the central pivot and/or weekly/monthly L3 comes in after this next weekly and monthly close on their respective levels. Using camarilla pivots + cpr magnet reversion method. Weekly/monthly levels
Short
by Gunslinger2005
1
AUDUSD WEEKLY OUTLOOK 3/28 - 4/2AUDUSD IS AT AN INTERESTING WITH GOOD RANGE TO BOTH THE UPSIDE AND DOWNSIDE. THE PREVIOUS 2 DAILY CANDLESTICKS INDICATE A POSSIBLE REVERSAL HAPPENING AND AUDUSD GOING LONG. IF SO, I HAVE TARGETS AT 0.77400 WHICH IS ABOUT 120 PIPS FROM WHERE PRICE IS CURRENTLY. TYPICALLY MY STOP LOSS RANGES FROM 10-20 PIPS ON THIS PAIR. THIS WILL LEAVE ME WITH ABOUT A 1:8 RISK TO REWARD RATIO. ON THE CONTRARY, IF PRICE PUSHES TO THE DOWNSIDE, I HAVE TARGETS SET AT 0.75200. THIS IS ABOUT 100 PIPS FROM CURRENT PRICE. IN ADDITION, WE HAVE A TRIPLE WICK (CIRCLED IN CHART) THAT HAS OCCURRED REPEATEDLY TO THE DOWNSIDE, REJECTED, AND PUSHED PRICE UP. I WOULD LIKE TO SEE A BULLISH AUDUSD NEXT WEEK, BUT WE WILL SEE WHAT THE MARKET HAS IN STORE.
by drewillixms