Lots of people suddenly wanna BUY HIGH due to FOMO, But the motto is to Buy Low and Sell High, Price had retested a Weekly OrderBlock above that caused It to reverse and drop on Sunday, and now it continues down due to liquidity, so the motto is to simply Sell High
Entry was from the 30 min OrderBlock for LTF Entry
Looking at Great British Pound versus US dollar which has come up to resistance levels around 1.31 as highlighted in our trading view chart. This idea comes from a combination of price action and technicals.
On our chart we have RSI and bollingers both forming bullish trendlines to match price action of higher lows since late April. We also...
EURAUD recently broke out of trend line Resistance last week, but if you check out the daily chart you can see the last 3 days have all had rejections form Aprils high @ 0.618 , swinging above yet failing to close above on all 3 days, seems weak from the bulls.
Stoch 55,5,3 is at resistance of 93 and RSI has big divergence on the 4 hour.
The concerning aspect of...
Last post: May 31st 2018. See chart.
Review: Price was struggling to break through the round number 9.0000.
Update: The bulls are firmly in control. Price is now trading above the ATH and showing signs of strength towards 10.0000.
Conclusion: Standing aside until a clear trend direction has been confirmed above the ATH. Patience for now.
Any comments or...
An interesting day, price-action wise, yesterday.
Today, more Q1 earnings reports – may put spanner in the works.
Overnight, price coiled around the highs of yesterday. Price is above yesterday’s POC and has tested yesterday’s high several times.
My take is that price will shoot through the October highs. As to whether it continues, that’s down to earnings...
The first day back from a long weekend. Yesterday's trading volume was rather low as expected, since most of Europe was on holiday. Today, Tuesday, overnight session trading was confined to a narrow range of 6pts within the highs of yesterday's NY session. On open, I am expecting the price to test yesterday's highs.
Note this week heavy on Q1 earnings. Rather...
E-mini S&P continues in an uptrend. Overnight it took out yesterday and Friday's highs. On NY open today, I expect that price will come down and take out overnight lows before resuming the upward journey.
A nice structure based wedge has formed along with a nice pullback. very nice risk:reward on this trade, entered slightly late but still very high reward. leave any thoughts or ideas in the comments and happy trading:)