Uptrend is still in track. 25MA (red line) confidently crossed 50MA (yellow line) and 100MA (blue line) giving a sign of uptrend. We plan to enter the market at price pullback at 61.8 Fib level to minimize the risk of losing trade.
We enter the long considering:
-risk/reward ratio 1.6;
-putting at risk no more than 2% of an account.
Looking for 4H timeframe it is obvious - the price was attemting 3 times to form a new high and actually did. However, it could not break the psycological level of 106.95. For this reason, we are looking to short from a 61.8 Fib level, keeping in mind: - risk-reward ratio 1.6 and risking no more than 2% of an account.
All MA's are in a regular place and order like in a downtrend (First 100MA, then 50MA and 25MA) in a 4H timeframe. Even though, 25MA is going to cross the 50MA above and looking for a place to cross the 100MA. Considering the clear downtrend in 4H timeframe, where the price has drawn the lower low (0.6487), we are looking to short from 61.8 % Fib level.
In this...
If we look for the Daily timeframe, we can see two daily candles, rejected from the formed resistance level. Then, looking for the 4H timeframe, we can see that two previous lowes did not form a new lower low. Moreover, two dojis were formed, giving us a sign that probably the trend is going to change. Whatever the result is going to be, we are keeping a good...
Coming to the level several times, price formed resistance zone. We suppose this will happen again. Very good trade in terms of risk-reward ration 2.26%. As usual, enter the long position putting at risk no more than 2% of an account.
The price is waving between 50MA and 100MA, while 25MA crossed down the 50MA. The crossing 25MA down 50MA could give us a sign that the price moving down. However, we will not ignore the uptrend in 4h and D timeframe.
There is another sign, showing us the sideways. Looking for the previous 3 highs and 2 lows before the last price drop (in 4H timeframe), it is...
