Bulls showing significant weakness at this level they look exhausted to me. From what the market is telling me, GJ should be heading down and my analysis on EURAUD should also be correct euraud should be heading up.
GJ has also failed to break this resistance level for the past few days, so ask yourself this. IF IT CANT GO UP, IT MUST GO.........
PLAN:
1-Wait for break of support zone.
2-Wait for retest on the 4hr
3-Wait for 4hr confirmation candle at retest point
4-Enter sells with a tight stop loss and correct risk management.
GJ has also failed to break this resistance level for the past few days, so ask yourself this. IF IT CANT GO UP, IT MUST GO.........
PLAN:
1-Wait for break of support zone.
2-Wait for retest on the 4hr
3-Wait for 4hr confirmation candle at retest point
4-Enter sells with a tight stop loss and correct risk management.
Comment:
GJ is definitely due for a retracement followed by a possible impulse move which simply means if it comes back down to its original point of break, bulls may take over and continue to push GJ up. but thats a story for another day. lets not get ahead of ourselves ;)
Comment:
nice, now wait for 4hr close, wait for 4hr retest, wait for a 30min key candles.and sell with 20-30pip stops
Comment:
Stunning, price came to our original point of break, it clearly retested that point.
Now look at my plan it is specific and price did exactly 1-3.
1-Did we get a break of support? YES
2-Did we get a retest? YES
3-Did we get a key candle on lower frame? YES absolutely
there was no reason to not enter, if anything you would have had a 30pip stoploss. but reward was great and as you can see price came down to next support where it also gave me confirmation to exit as we got a rejection candle and a key candle. at this point your stops should be in profit anyways. always make your trade risk free the moment you get a chance
Now look at my plan it is specific and price did exactly 1-3.
1-Did we get a break of support? YES
2-Did we get a retest? YES
3-Did we get a key candle on lower frame? YES absolutely
there was no reason to not enter, if anything you would have had a 30pip stoploss. but reward was great and as you can see price came down to next support where it also gave me confirmation to exit as we got a rejection candle and a key candle. at this point your stops should be in profit anyways. always make your trade risk free the moment you get a chance
Comment:
Stunning, 21pip stoploss, for a 170+pip gain.