Hi Tim,
Here is my trade for this week.
Trade analysis:
We last week rejected at the weekly double top structure for this pair. We then small or a small breakdown before recovery at the end of the week. All of this indicates we won’t be going any higher, and can expect a sell soon.
News:
We are expecting US dollar weakness this week, and the major news before market opening regarding the yen is expected to strengthen the yen in this pairing.
Tactic
I expect we will see breakdown quite quickly this week. Enter on bearish momentum, with a stoploss at the recent top. We can use the Fibonacci levels for take profits. Like many of my other trades the ratio here is very good, and this means you do not need a large lot size to make some money. Please exercise caution, and do not trade more than you can afford to lose.
Good luck, trade safe
DrBear
Here is my trade for this week.
Trade analysis:
We last week rejected at the weekly double top structure for this pair. We then small or a small breakdown before recovery at the end of the week. All of this indicates we won’t be going any higher, and can expect a sell soon.
News:
We are expecting US dollar weakness this week, and the major news before market opening regarding the yen is expected to strengthen the yen in this pairing.
Tactic
I expect we will see breakdown quite quickly this week. Enter on bearish momentum, with a stoploss at the recent top. We can use the Fibonacci levels for take profits. Like many of my other trades the ratio here is very good, and this means you do not need a large lot size to make some money. Please exercise caution, and do not trade more than you can afford to lose.
Good luck, trade safe
DrBear
