The level on daily chart is prev support turn to resistant, I see some sign of weakness , with small risk, we can short this pair
The zone is respected nicely, the risk and reward is great for this trade
Looking at the level and the bearish engulfing, short is on the way
Described in the chart , we are at sell zone now and expect to get some retracement
From the reversal point, it was first wave up and then retraced, my rule of thumb says that never reverse position for that kind of movement so I look for continuation to ride the trend, I see the wick on important support level, I conclude that that is sign for long. We will see market open to confirm the set up and decide to take the trade or not.
I entered the trade as shown in the picture.
EURGBP is set for breakout, so watch price at BUY ZONE and ride them until reach the upper channel where we can take our first profit and if break the channel, it means we expect for more BUYING opportunity.
I like when market clearly shows that they try to get certain price and always failed, and with multiple hit on same level, we can see that the bear still in control. Wait for next opening when we can short as long as price still below the level
still with long bias on this pair and now give opportunity to enter after retracement.
With the weakness in GBP and the price closing the gap, it is time for me to take long on this pair. As usual we take small risk for big reward.
Looking at the last move on Friday, there was some selling pressure but it was not enough to show an impulse so we can't conclude that this is a sell opportunity. Monthly View Market seems trying to create a lower high which is lower than previous lower high Daily View Price at the middle of nowhere , look left , there is no evidence of significant...
Today's sentiment where AU up and EUR down give this opportunity for scalping
Price at resistant might become future support. Only BUY when a 1 HR bull candle appear at the support line zone
It is time to short this pair after ideal retest , this pair is moving away where GBP down and AUD up, this can be very smooth trade.
Price back to demand zone and still in the correction phase. So I think it is time to buy
While many believe that NU is in downtrend, I see that looking at monthly chart, NU has not invalidate any uptrend on longer term. uptrend as we know is when price keep making higher low, we can see there is no violation on this rule. If this view is accurate, we might be looking at a continuation for uptrend where it would break the flag on daily chart which is...
The test to the trendline has been happening for many times, It might failed again but theory says that if something tested for so many times , more likely it would fail. So my game plan is to catch when the market goes through it by putting pending order above the trend line. The formation also has the tendency of break to the upside.
Most has been waiting for this breakdown, and watching the chart and level, it is nice place to short with big potential reward. Enjoy the ride down hill