Chart patterns is the best way to trade this market. As you can see on the setup, this pair has formed Inverse head and shoulders in a bullish flag.
These two patterns gives a strong confirmation that this pair is going to trend upward. look for buys on smaller time frames.
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THE PAIR BROKE OUT OF A MULTIYEAR TRENDLINE, THE PAIR IS RETESTESTING THE TRENDLINE THE SECOND TIME. IT HAS ALSO FORMED A DOUBLE TOP. THIS PATTERN IS A BEARISH REVERSAL PATTERN.
MY BIAS ON THIS PAIR IS A SHORT.
TRENDINE BREAKOUT STRAGTEGY WORKING HERE.
ALWAYS FOLLOW RULES WHEN TRADING. ANY STYLE OF TRADING HAS RULES, KNOW THEM AND APPLY THEM AND YOU WILL BE A SUCCESSFUL TRADER.
THE MOST IMPORTANT THING IN TRADING IS NOT HOW PROFESSIONAL YOU ARE IN ANALYSING THE MARKET BUT HOW PATIENT YOU ARE.
THE CHART PATTERN FORMED IS CALLED INVERSE HEAD AND SHOULDERS AND THE PAIR HAS ALSO FORMED BULLISH FLAG WHICH IS A BULLISH CONTINUATION PATTERN.
GO LONG ON THIS PAIR.
Inverse Head and shoulders FORIMING ON THIS PAIR. THIS MEANS THIS PAIR WILL HAVE TO FALL TO 43.00 LEVEL TO FORM THIS CHART PATTERN. ON THE DAILY TIME FRAME WE CAN SEE A BEARISH ENGULFING PATTERN FORMING AT A RESISTANCE LEVEL. WE SELL THIS PAIR TO 43.00 THE WE BUY TOENJOY THE RIDE UP TO BREAKE LEVEL 75.00 WHICH IS A STRONG RESISTANCE.
MY BIAS ON THIS PAIR IS...
This currency has been in an uptrend for weeks now. there's a strong resistance @ 109.600 and 109.150. THESE TWO LEVELS HAS BEEN RESISTING THE BULLS FROM RALLYING. ACCORDING TO MY ANALYSIS THE PAIR IS GOING TO RALLY THE DOWNSIDE SOON TO 106.1. THERE'S A REJECTION @ THESE LEVELS. LETS KEEP OUR EYES ON TIS PAIR.
