GBP/AUD - Long Trade
Price has broken the downward trend line making a higher high indicating a change in trend.
- Long on pullback to Demand Zone (Marked Green) if the level holds.
- Taking profit at the 3 Supply Zones (Marked Red).
In a short term downtrend on the euro fairly strong move down and predicting a retest of the current level that held. Possibly can continue lower if we make a new low. Also getting nice slowdown and rejections on the 60
HAVE WE REACHED THE SUPPORT AREA FOR A SHORT TERM PULL BACK TO THE 0.905 ZONE ?
POLITICAL ACTIVITIES AND BOE HAWK TURNING DOVISH COULD PULL THE EURO UP BUT WE STILL SEE THIS MARKET BEARISH ON THE MEDIUM TERM TO THE BOTTOM OF THE RANGE AROUND 0.85 ZONE
Hi Traders, here is my analysis for EURCHF BUYs. The trade is not ready yet, but this is what I am looking to play out. Theres clear traffic straight into a resistance level for a start. For those who don't understand clear traffic, it is usually when a succession of candles of the same colour head into a zone, and price reverses to usually take out those candles...
AUDCAD pair is weakening for the last couple of weeks and a recent pullback from previous low at 0.8889 is now ready to fall again. This time probably re-testing 0.8889. Partial profit is set at 0.89379 while a stop loss is at 0.90577. Risk/Reward for this short trade is 1:1.3
PLAN YOUR TRADES AND TRADE YOUR PLANS
LMT stock has been on a serious charge over the past few months with little push back.
Most of the run's up have been followed with pullbacks between 2.5% and 5% before continuing to rise.
Look for good entry zone taking profit from around 3.5% - 4% range.
Although the GBP moving average is showing strong, so is the USD and the USD index still bullish from last night.
GBP is now over bought and needs a pull back before it breaks through the next key level.
IF we break out above 1.2160 the short term trend remains your friend *bullish
Watch the GBP moving average sellers sat at 1.4436
I would recommend to close on current levels 10500-10750 at-least total of 15% of the positions.. I do believe that we will test 10150... but since im going to sleep I always prefer to take small profit just for any case if we wake up and suddenly big buys appear (also the break downwards was weaker then I thought it would be)..
SLs to profit at 11010.