-Long term up trend on the Daily and the 4hr. -Up trend line and down trend line are about to apex. -Bias towards a buy because of the long term up trend. -Confirmed up trend channel as price has not neglected its 15%(measured the high and subtracted the low. Took 15% of the total and added it to the low.) -Just waiting to see what happens. Add to that winner if...
Fundamentally there is no critical EUR or JPY news this week! Which is great because I do not trade news unless if it involves Precious Metals/Indicies Most of my analysis is written down on the chart but some key notes is to wait for some market structure within my marked entry zones. From there some more waiting will have to happen as we must wait for an...
For the past week during the London into New York overlap price has been dipping down for a daily entry finding your close at or just after the close of the New York session. I marked the entries and exits with a red rectangle on each day this pattern has been currently appearing.
Based on historical support zones and current bullish price movement I decided to trade the market because of short term exhaustion. Please set your stop loss at your respectable daily stop loss limit. If you require more room reduce your lot size.
Descending wedge for 30 pip set SL at either daily risk or a few pips above the downward trendline.
After price gets down to our TP zone we can look to trade the next breakout. After it gets closer to the apex of the wedge.
Pivot shifted up to confirm long position analysis.