Looking at this level around these trendlines and the bearish 78.6% Fibonacci retracement level as being a lower high on the daily therefore looking for sells on this. I will be looking at the 4h timeframe and waiting for that to turn bearish to confirm this idea. Once that is bearish ( Created a lower low) I will then be waiting for a pullback to get into sells.
Looking at buy on EURAUD next week, looking at the daily timeframe we are very bullish and have come around an area of interest for continued buys. I'll be looking for entries and set ups on the 4h timeframe to get into this.
Not much analysis just pure price action, looks like we are going to be seeing dollar strength coming into this week
Now we are in a down trend on the 4h we can look for further downside. I am favouring for price to come up to the resistance level marked as well as the 38.2% fib retracement level, if it produces the right bearish candle sticks on the 1h or 4h timeframe i would consider selling this! Again as my last post said I do not trade crypto, I trade forex but I am trying...
I don’t really trade crypto’s, this is my first paper trade. Risk to reward is a 1:5. It is reacting off a support level and 2 different fib levels.
A trade I took earlier this week. Playing out lovely so far