Expect a retrace to the downside and after what BUY. ( this pair is touching a 4HRS support for the third time. you can as well put a buy limit at point 121.265; that is 50% of the 4HRS pin bar.) Wish you a good trading day. Follow me: to learn simple price action strategy.
Be patient and wait for retest of the red line; afterwards short at good bearish confirmation.
SHORT WHEN PRICES HAS RETESTED THAT LEVEL.
1DAY time frame, seems to give us a double bottom...INTRA-DAY, market resting on a good support level. Price action showing us a shift in trend. Enter at good confirmation .
SELL, if market reject area and close lower.
The market might come back trice, to test this zone. enter at completion of a good bullish confirmation.
USING PRICE ACTION, AND A TOP-DOWN ANALYSIS, We expecting a little drop in price before longing to our resistance... AFTER that i will keep you inform on the next move. Follow me, if you want to learn how to use the raw data of the market to be profitable.
Await good bullish move to long paIR to that target...after that, look for good bearish confirmation to short pair to bottom level. why should you look forward to short this pair, after taking a long profit? According to the 1day time frame this pair is bearish.. we longing this pair because, we expecting the market to retrace 50 percent of yesterday bearish...
We expecting prices to retrace to point 122.477, which will probably retest our support and likely that of our slant support( green trend-line ). After that look out for a bullish engulfing candle or a significant pin bar . WHAT WILL MAKE THIS TRADE INVALID? If prices reaches that support and fail to see buyers there, then it becomes invalid. we won't be looking...
IF BEARS COULD LEAVE A WICK ABOVE THIS CURRENT BULLISH CANDLE, YOU CAN SELL OR PROBABLE WAIT FOR A BEARISH CANDLE( even a small bearish candle: short it)
BULLISH PIN BAR WITH THE TREND.
Don't short this pair yet, Retracement to price 107.40 , failure to surpass that level shows the presence of the bears. Enter after good bearish confirmation.
MARKET MOVING IN A SWING HIGH AND LOW... AND ALSO TESTING THE BROKEN TRIANGLE... BUY AT GOOD BULLISH CONFIRMATION. YOU CAN ALSO CHECK PREVIOUS TRADE ANALYSIS THAT HIT TP @ THE LINK BELOW.
Be patient and allow prices tell you where its going.
Double confirmation could be a better scenerio .