Hello FP Cheaters,
Current 15M chart shows a bullish momentum. However, 1H and 4H show a re-entry. Some evidence marked in the yellow boxes may be indicating institutions pushing the price up above key SR to open short. Increase in volume can be observed. USD news regarding Core Durable Goods Orders m/m will be out soon, could this be a Bull Trap for another Bear run?
We need more evidence in the next few moments. As of now, my sentiments are bear, a retrace till previous high at 1.08400 may be tested before I place an EP.
Trade safe!
ForexPipCheats
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work for you as well as against you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
Disclaimer:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary or educational information and does not constitute to investment advice. I do not accept liability for any loss or damage, including without limitations to, any loss of profit, which may arise directly or indirectly from use of or reliance on such
Current 15M chart shows a bullish momentum. However, 1H and 4H show a re-entry. Some evidence marked in the yellow boxes may be indicating institutions pushing the price up above key SR to open short. Increase in volume can be observed. USD news regarding Core Durable Goods Orders m/m will be out soon, could this be a Bull Trap for another Bear run?
We need more evidence in the next few moments. As of now, my sentiments are bear, a retrace till previous high at 1.08400 may be tested before I place an EP.
Trade safe!
ForexPipCheats
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work for you as well as against you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
Disclaimer:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary or educational information and does not constitute to investment advice. I do not accept liability for any loss or damage, including without limitations to, any loss of profit, which may arise directly or indirectly from use of or reliance on such
Trade active:
Price tested Range Daily Low and now Daily High. If it does not break RDH, a reversal is expected. Current EP at 1.08017 and 1.07966
Trade closed manually:
I just realised my title was bull trap. I was suppose to mean bear trap
Anyways, market is quite weak since it is a Friday, trade was close with a 15pips profit. See you next week
Anyways, market is quite weak since it is a Friday, trade was close with a 15pips profit. See you next week