Market currently finding resistance at around 1.4440. We have started to see some candle stick pattern reversal appear. The next 4 hour candle stick could be vital as it will determine if this trade will be a valid short trade set up.
Tuesday daily candle stick fails to break my support level which leaves a hammer forming on the 4 hour time frame. as the asian session is about to begin now would be good time place a long trade with a small stop loss of 30 pip. I have also highlighted a 3rd touch of my Trend Line.
We have now seen a 3rd touch of my 4 hour Trend Line. I have open a long position because of the 3rd touch and my trade is currently in 40 pips profit. I will be holding this trade as I believe it will be making a new higher low.
The market has seem to find some resisstance at the 1.7856 area. We have also seen a hammer form on a 4HR time frame this is anther form of evidence to go long. If we get a 1 hour candles tick closure below 1.7856 area then I would look to close my position as the market might find some downwards momentum.
The market has seem to find some resisstance at the 1.7856 area. We have also seen a hammer form on a 4HR time frame this is anther form of evidence to go long. If we get a 1 hour candles tick closure below 1.7856 area then I would look to close my position as the market might find some downwards momentum.
I have highlited four scenario on this pair in regarding to what can happen in the next few days or next week.
I hope you find this information useful.
HAPPY TRADING WEEK
We seem to be finding some strong resistance at the 111.500 area. A Grave Stone Doji and a Shooting Star have formed on my monthly resistance, this indicates to me maybe we are coming to a end of its uptrend and can start to see some downwards momentum.
If you decide to take this trade and go short, your stop loss should be placed at around 112.000 area and i...
Here we have a long opportunity on 4HR time frame. The market has seemed to come to an end of downwards momentium. If you switch on to the daily time frame you will also see Spinning Tops starting to form.
Market gone into consolidation since the first week of MAY.
Im anticipating the break out to happen very soon. Its looking like its going to break downside as we are seeing
some nice spinning tops and doj.
Lets not forget we had a Shooting Star on 24/05/16 and todays candle stick looking like its forming another one.
Wait for a Bearish candle stick closure...
