Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has made a pullback to our selling area exactly as expected and is now testing our selling area. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout...
Hey guys,
We have a parallel channel in place and lower highs.
Technically, the lower high should hold, that's where I put my stop loss.
Target will be a confluence area, around 0.98870.
The idea is to buy the breakout on H1.
Wait until RSI shows signs of bullishness.
Cheers
Jesse
Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has made a pullback to our selling area exactly as expected. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at...
Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price continues to drop lower from our selling area. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733...
Last week price broke below key support at 0.98599. With this failure of support and a weak USD, a pullback and retest of broken support turning resistance at 0.98599 would provide an opportunity to look for shorts, down towards the next two key areas of support to the downside at 0.97622 and 0.96480 respectively.
Sell below0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has been making a pullback to our selling area. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733...
Sell below0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We look to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733 support (Fibonacci...
Sell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847.
Reason for the trading strategy (technically):
Price has bounced up to our selling area once again and we look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders...
Sell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847.
Reason for the trading strategy (technically):
Price has reacted strongly off our resistance area once again and is starting to drop nicely. We remain bearish looking to sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least...
Sell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847.
Reason for the trading strategy (technically):
Price has started to drop really nicely towards our profit target. We look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and...
Last week price continued to correct into the key area of support at 0.98599. As we go into next week with this support area holding the preference is for further advances up towards the next key areas of resistance at 1.00774 and 1.01653. Some strength in the USD Index will be needed to make this pair rally however.
descending trend line
hit the fib level of 61.8
over 4 types of resistance correlating at the entry price
stop loss over the next higher fib level
4h our bearish
nice easy drop do to most recent low
simples
A strong bearish trend in previous days has decreased in power as price reaches an area of supply. a decently sized engulfing candle on an area of support signals a strong buy signal with a Risk-Reward ratio of 2.2.
