I can see a continuation of the bearish trend after a retracement to the 25 EMA due to the RSI being too low.
To support my prediction, I have the bearish trend coming off from a resistance found in the daily timeframe.
The stop-loss has been positioned with respect to the previous consolidation region. An ambitious target price was chosen short of a support...
EMA SMA crossed smoothly...expect some pull backs but won't reverse the market until S1 S2. Trailing stop at 20-25pips will be a good idea.
Wait for current candle to break through and close on H4
So since Entering a SELL almost 2days ago we hit TP1 and now securing position 2 by bringing our Stop Loss into Stop Profit. this is now a risk free trade and we estimate only half way there. Either way...PROFIT HAS BEEN MADE AND ANYMORE IS A BONUS!
Hey traders, EU about to start a short bullish movement. Then I am seeing a bearish control until Weekly trend line. This week is critical for this par.
1st target(blue): 1.18470
2st target(red): 1 .19880
Then... Expected the minimum 250 pips down..
Trendline Bounce Opportunity : Previous bounces from the trendline which shows strong resistance, Muiltisession M on the 4HR. Potentially retrace to the 0.5 / 0.618 Fib area which matches up the support trendline and also the 50 SMA on the daily
Entry Zone : 1.20900
Stop Loss : 1.21050 (15 Pip stoploss, place sell stops at stoploss price if it hits)