dec-98

dec-98

Momentum has been in favour of the bears recently as we have witnessed. For this trade to be complete we are needing to break a firmly established area of support. As such we should be approaching this trade with caution. However, price action is showing signs of a push to the downside which is also confirmed by the RSI.

dec-98

Our previous long position went into 45 pips profit at the end of the Asian trading session. It since retraced and has bounced from the 4H confirmed support. This indicated that our analysis for the long position was correct. Therefore, we will look to take another entry.

dec-98

Price has reached an area of previous of support. We have seen the bearish momentums slow as the bulls try to take over.

dec-98

Pin bar rejection of resistance indicates we might make one more push to the downside.

dec-98

Price has reached a zone of confirmed resistance after a bullish run. This provides scope to enter into a short position.

dec-98

Price has consolidated at the 40 level on the RSI which indicates we are still in a bullish move. As such we have been looking for long opportunities. Now that price has broken consolidation we can look to buy it up to 1.37430.

dec-98

Having been previously stopped out on our last entry, we have since witnessed price move to the outer band of our resistance. Therefore, I shall be waiting for a retest on the 15min chart before entering into our short position with.

dec-98

Momentum is still clearly with the bulls. However, we are now approaching weekly and monthly resistance which for the last week has been a key zone for going short. As such I will be looking for another short opportunity. However, if we make a move to the upside then we could finally see a continuation of the bullish trend.

dec-98

Momentum is with the bulls just now. However, we are yet again at major resistance. The RSI is also over the 80 line on the higher time frames.

dec-98

Price has retested and gaining momentum towards the downside.

dec-98

Price has retested and gaining momentum to the downside.

dec-98

Price has tested the weekly resistance and has formed a double top on the higher timeframes.

dec-98

Scalp opportunity

dec-98

Price has broken the trendline and closed above the area of resistance. Looking at the higher timeframes, the RSI is showing that we are trying push upwards.

dec-98

Price is reaching a strong area of resistance after a period of consolidation. Looking at the higher time frames we can expect to see a move to the downside. As such, looking at the 15min to catch a move to the downside.