timolsfx19

timolsfx19 Updated 

Reasons to sell: 1. The market broke below a previous high. 2. The market formed a lower high. 3. In terms of currency strength, the Japanese Yen has a bullish index reading of 44% while the Canadian Dollar has a bullish index reading of 42%. Short Opportunity: - Stop Loss: 79.600 (60 pips) - Take Profit: 77.000 (200 pips)

timolsfx19

Which way shall price go? - There are 2 possibilities: -If price goes bullish wait for retest and enter. -if price goes bearish wait for retest and enter. -Price is more likely to go bearish from here.

timolsfx19

Notes: 1. The market formed a lower high and is currently reflecting a bearish structure on the daily time frame. 2. Reversal patterns are evident on the 4 hour time frame as well as on other lower time frames. 3. Sell USDZAR @ 17.30000 4. Take Profit Level: 15.87250 (14275 pips) 5. Stop Loss Level : 17.71350 (4135 pips )

timolsfx19

Notes: 1.The market is currently trading at a prominent resistance level. 2. The market formed a Lower High and broke the bullish structure,forming a bearish structure. 3. Reversal candles are visible on lower time frames. 4. Take Profit level : 1.25750 (85 pips) 5. Stop Loss level : 1.26750 (15 pips)

timolsfx19

Notes: 1. The market has currently formed an Ascending Triangle on the daily time frame. 2. Overall Trend is Bullish 3. If price forms reversal candles around the 1.68500 level, prepare yourself to go long on this pair. 4. Stop loss level: 1.67000 (150 pips) 5. Take profit level: 1.76000 ( 750 pips) 6. Minimum account balance (with an account risk of 10%) for lot...

timolsfx19

Notes: 1. The market is still in a bullish structure in higher time frames therefore Fibonacci profit levels cannot be taken. 2. Bearish pin bar found on the 15 min time frame shows signs to go short until the 134.100 level. 3. Take Profit level: 134.100 (60 pips) 4. Stop Loss level : 135.000 (30 pips)

timolsfx19

Notes: 1. Price failed to break the 0.68120 support/demand level in order to form a bearish market structure. 2. Therefore at this stage one cannot go short yet. 2. If Price breaks the 0.69000 resistance/supply level, prepare yourself as a trader to go long until the 0.69600 level (fibonacci level).

timolsfx19

Notes: 1. The market is currently at the 38.2% retracement level 2. Overall trend is bearish 3. Reversal candles are visible 4. Take Profit @ 1.24300 (117 pips) 5. Stop Loss @ 1.25700 (22 pips)