We can see a clear bounce off key support ( green line ) which we had an order placed at, we also entered another long position at our purple line.
We can see this trade picking up 100+ more pips as recently this pair has been respecting all our key levels.
Simple clean charts = clear vision ;)
So we are long on this pairing... get on it.
We can see that price has respected this lovely trendline TL many times before, and we are expecting price to continue doing this... So we are going long on this position with a possible very good risk to reward target.
Get on this trade and thank us later... mines a vodka and redbull :p
My favourite instrument to trade if i had to pick only one it would be this index.
Anyway just sharing analysis and plus something for me to look back on entered 2 positions so far today on the short, we could see a retest above on the monthly zone before that drop but as for now I am in.
TP1 and TP2 are there for the long term bias, however for the week 10300...
We are looking for a possible retest and bounce of key support before we jump in this trade, if we do get the bounce then we could see a possible bullish rally of around 200 pips.
But you must wait for the retest and bounce because if price does break this strong level then it could sink.... so just be patient ;p I'm sure ELVIS said ONLY FOOLS RUSH IN ;p
With this pairing breaking and re testing a good trendline TL late last week we can only see downside movement and possibly reaching our target zone of around 300 pips from current price.
We have placed our target zone where we have because it is very strong support and resistance area where price has respected as far back as 2009... See the importance of...
After Thursday and Fridays bearish run last week price is now sat at an important support level and with Fridays candle closing as bullish on the 4H chart we are expecting price to carry on respecting this level, we might get 1 more test and bounce of this level before finally ending up in our green zone.
Wit the only high impact news for this pairing coming on...
Price broke through our TL to the upside but then hit strong resistance, bounced off resistance and now is currently breaking back through our TL to the downside.
We will be keeping an eye on this trade next week to see if price bounces off our strong TL and makes further moves down ( bearish )
This is like the age old question... should pineapple be on pizza?...
Price is respecting a lovely trend line TL, and price isn't far away from key support but with the current weakness with AUD we are expecting price to push its way through this strong support and although the USD isn't that strong at the moment we feel it is still too strong for AUD.
So if we get a break of support then SHORT the hell out of it as it could drop a...
We are looking at a lovely sell on this pairing with a possible retest of recent highs, in our last post we could see price following our TL down to our area, price did break this TL and we can now see price re testing our resistance level before making a move lower to our green zone.
Remember trade with patience, without this you will loose to the market, also...
Price hit resistance at the top and is now following a lovely trend line, we expect price to follow our TL down into our green zone which has previously been used as a key support and resistance area, so this is where our TP will be placed.
This trade will give us 100+ pips, but if you take this trade please remember to use correct risk management.
So go SHORT...
We are waiting for a re test and either a break or bounce of support/resistance level marked by our purple arrow.
As you can see for yourself this level has been used as strong resistance in the past so might come down break this level and carry on using as resistance, or price could get rejected by this level and us it as support.. Either outcome we can see this...