On the daily timeframe we can see price rally back up to 1.2900+? Last time price was here was two years ago and price rallied all the way to 1.4600. With not much significance to stop price from reaching those highs again I fancy this trade. From a price action point of view I my first target would be 50 pips away as previous support can turn into new resistance!!
- At 16.720 i like this area because price has not been at this area for long. - Price leaves the level pretty strong, indicating alot of sell order still remain at this level. - Good Risk To Reward 3:1 minimum - Stop loss Safe at 16.860 - Price is on a downtrend (so good area to catch the drop)
Between 0.7596-0.7825 looks appealing for short orders and continue this long term down trend. I also spotted potential buy orders at .7200 and .7240 for any short term opportunities!!
Price rallied pretty strongly into an area where sellers exceeds buyers. this can be seen between 0.6672-0.6647. i fancy this pair to go back down in if not the risk to reward management is there!!! lets see how this one plays out.
Spotted a nice Selling area (34.21-35.37) if price reaches up to my intended selling area i am shorting due to an imbalance in price. Solid Risk to Reward Ratio helps with Risk Management and long term wealth #winning team follow my instagram @dr_pips for more price reaction
1.4166-1.4133 price consolidated and dropped. meaning alot of sellers sold at that area meaning a possible unfilled market orders still in that zone.... an example of this below when price on a daily TF reacted and dropped from my zone 1.4101-1.4081 so i expect the same. i will take profit at 1.38500 and i will move my stop loss into profit once it begins to...
1.4166-1.4133 price consolidated and dropped. meaning alot of sellers sold at that area meaning a possible unfilled market orders still in that zone.... an example of this below when price on a daily TF reacted and dropped from my zone 1.4101-1.4081 so i expect the same. i will take profit at 1.38500 and i will move my stop loss into profit once it begins to...