Disclaimer:
Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Weekly Analysis:
You can see in the previous few weeks price has tried to make a downtrend but really struggled on the way down, then price decided to make a jump upwards to the 0.66000 area before making another big move downwards. We saw price attempt to make a big move upwards and the bears really showed who was in control by making a big move downwards in the previous few weeks around November 1. We would want to see a break to the downside with a lot of momentum and even a pullback with rejection if possible. Waiting for a confirmation on lower time frames can be really useful here and will give us a better trade if we wait for a few confirmations.
Daily Analysis:
Price on the Daily still shows that there is a lot of bearish momentum but it does also show that there is a struggle breaking this lower zone and price has already bounced and went sideways in the past week. For us to take a trade, we would need candles to close below these lows with a lot of momentum before we take a low risk trade and try to capitalize on this continuation move. Confirmation on lower time frames will allow us to get a really good entry but might be a little more risky, if we wait for a close below these lows on the Daily timeframe we could get a less risky trade but lower Risk to Reward.
Hourly Analysis:
You can see marked by the green line, price has already started to try and form a downtrend by making lower highs and lower lows. Within this little move downwards you can even see that price had tried to make multiple pullbacks but continued downward multiple times as well. We are going to wait for a close below this bottom black zone and it would be nice to see a pullback to show weakness to the topside and a big move downwards before we get into this trade. A big move downwards will show that there is momentum in the bears and this could be something that we can take advantage of.
Thanks again,
KeySlot
Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Weekly Analysis:
You can see in the previous few weeks price has tried to make a downtrend but really struggled on the way down, then price decided to make a jump upwards to the 0.66000 area before making another big move downwards. We saw price attempt to make a big move upwards and the bears really showed who was in control by making a big move downwards in the previous few weeks around November 1. We would want to see a break to the downside with a lot of momentum and even a pullback with rejection if possible. Waiting for a confirmation on lower time frames can be really useful here and will give us a better trade if we wait for a few confirmations.
Daily Analysis:
Price on the Daily still shows that there is a lot of bearish momentum but it does also show that there is a struggle breaking this lower zone and price has already bounced and went sideways in the past week. For us to take a trade, we would need candles to close below these lows with a lot of momentum before we take a low risk trade and try to capitalize on this continuation move. Confirmation on lower time frames will allow us to get a really good entry but might be a little more risky, if we wait for a close below these lows on the Daily timeframe we could get a less risky trade but lower Risk to Reward.
Hourly Analysis:
You can see marked by the green line, price has already started to try and form a downtrend by making lower highs and lower lows. Within this little move downwards you can even see that price had tried to make multiple pullbacks but continued downward multiple times as well. We are going to wait for a close below this bottom black zone and it would be nice to see a pullback to show weakness to the topside and a big move downwards before we get into this trade. A big move downwards will show that there is momentum in the bears and this could be something that we can take advantage of.
Thanks again,
KeySlot
