Tradingrange
Entered MNK 50.12 Support of Trading range, new trend potenialBough the possibly* weekly false brake(*will see at weekly close) on the support of the trading range.
Very similar to my previous MOS trade, will link to it for reference.
Hoping for a push higher and if closing above 80 area, a possible upgtrend follow-through, surpassing MOS trade results.
USD/CNH, DAY CHART, SHORT (18-FEB-2017)From the Price Action, it is quite obvious that the
selling pressure is greater than buying pressure now.
Overall, we are bearish on USD/CNH
Here are 2 trading plans for you:
1. Wait for bearish signal to short
2. If price pull back higher to Resistance Zone,
wait for bearish signal to short :)
USDCAD Long for when it breaks below the trading rangeI looked closely at the zone at the bottom of the trading range, but felt it had traded at that price point for too long and ultimately dismissed it. I'm estimating that the Daily Demand will eventually be broken...
two buy set ups are shown. Trades are in for both.
Swissie ready to break out of trading range?USDCHF continues to trade sideways for 2016. We've just had the US elections. Will this be a catalyst for a breakout of some quite frankly boring trading? (if you're a trend trader). I still maintain that we should see higher prices to come in the longer term. Whether that will happen now or perhaps the start of 2017 is anyone's guess..
At the bottom of a weekly trading rangeCan the Cable finally recover from its free fall? The $GBPUSD reached the bottom of a weekly trading range.
We have an hourly pattern that may trigger the reversal. See this setup and more in this week's Weekly Markets Analysis newsletter:
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