Key resistance line at 112.111.
Price moving in an upwards channel.
Look for price to rebound off the key resistance level on higher volume.
Buy point 112.100
Take profit 109.500 (2.32%)
Stop loss 113.050 (0.85%)
ON WEEKLY SPINNING TOP HAS FORMED , on daily long legged dojis have been engulfed by the red , bear in mind end of the week slows momentum , but is it a coincidence that is it right at a strong resistance level , ALWAYS LOOK LEFT , LOOK LEFT!!! if price was to break below my support line at the opening of the markets and sustained a downward motion by tuesday or...
As you can see from my chart I'm anticipating #USDUSD to decline 32 pips to 1.3004 with a risk to reward of 2:1 .
Reason being is because we are still bearshish with a lot of seller in the market, intraday S&R has been broken & many more key factors.
Lets see how this trade plays out!
With Stock markets starting to enter Bear Market, a lot of Investors are looking for safe havens, GOLD is one of those, with a correlation to the stock market, Gold strengthens when the Indices weaken, we believe the is a large presence of Short Sellers at around the 1,303.000 area, this may only be temporary (quick bounce) as Gold prices could continue to go to...
This short sell limit has been triggered and now i expect further momentum to the downside region 1.7250.
price should consolidate around this price action. will be watching closely for the pullback.
rejection of 4hr 200 ema. evening star formation reason for entry. many more confluences, im only giving a few though.
I don't trade Bitcoin personally, but I can analyse most Forex charts and Stock charts from a technical perspective. Looks like this pair is heading into a Major resistance zone. With the right price action, there's the potential to get into a short trade.
1) Intraday market direction is short
2) In a Bearish Channel
3) Minor support &resistance
3) On the verge of breaking the last HL which is also a support which will create a new HL
and a indication of a trend continuation
Expecting price to rally down to around 1311.2