UsmanFarouk

UsmanFarouk

GBPUSD was in downtrend as it was printing LHs and LLs. However upon close observation, bullish divergence on RSI was noticed. Consequently, a rising wedge also formed indicating start of a bullish trend upon breakout from the top. The projected high has been marked, as well as TP1 and TP2 along with Entry and SL positions.

UsmanFarouk

CADSGD is showing range bound movement since 25 Jul 23. Trade plan has been prepare for both bullish and bearish breakouts as shown on the chart and levels have been marked. Entries have been placed on breakout of S2 and R2 for long and short entries respectively.

UsmanFarouk

EFERT on PSX is rangebound between 81.99 and 83.88 as it is failing to print new HHs/HLs or LHs/LLs. Trade plan for initiating Long position has been marked on chart in case the price breakout above R2 and Short trade plan has also been marked in case price breaksdown below S2.

UsmanFarouk

EURUSD is presently range bound in absence of HHs/HLs and LHs/LLs. Simultaneous Long and Short trade plans have been marked on chart in anticipation both upward and downward moves upon breakout of range 1.10963-1.10462.

UsmanFarouk

GBPUSD is presently range bound in absence of HHs/HLs and LHs/LLs. Simultaneous Long and Short trade plans have been marked on chart in anticipation both upward and downward moves upon breakout of range 1.28291-1.28732.

UsmanFarouk

Luck Cement (LUCK) is observed to be rangebound between 577.94(S1) and 589.19(R1) on !H timeframe. However, in anticipation of the previous short-term uptrend, a Buy Stop has been placed above R2 on 596.48 with SL below R1 588.04. TP1 and TP2 have been placed propotionately.

UsmanFarouk

EURAUD is printing LHs and LLs and is in downtrend. A short entry has been planned with Sell Limit order at 38.2% FIn level with subsequent placement of TP1 and 2. SL has been placed above last LH.

UsmanFarouk

EURGBP is printing LHs and LLs and therefore in downtrend. A short position is planned upon retracement from Fib 38.2% during correction of the ongoing trend. Accordingly TP1 and 2 have been set, as mentioned on the chart with green lines. SL has been placed above previous LH, mentioned with a red line.

UsmanFarouk

EUR JPY is presently printing LHs and LLs. Therefore an entry has been planned upon anticipated retracement from 38.2% FIb level and TP1 and 2 have been defined, as per chart. SL has been placed above previous LH.

UsmanFarouk

EUR JPY is in presently in uptrend. It has resumed upward movement by bouncing from Fib value of 61.8%. Long entry has been taken at 156.536 with SL at 155.538 and TP1 at 156.934 and TP2 at 157.345.