Hey guys. Heading into new trading week we have a nice opportunity to go long on EURPLN. The red trendline has been supportive for all recent reversals to the upside since beginning of the 2016. The same thing can be said about 100 bar Weekly Moving Average. Today we can see a hollow candle being formed on daily char. My idea would be entering now with SL at 4.25...
Hey guys, I am putting an idea that's yet to be executed. If we get to 20.21 I'd suggest to put up a buy order. We'd be supported by three technicals:
1) Daily swing lows
2) 100 day Moving Average
3) 0,5 FIB
SL below the 0,5 FIB. TP at 20.7
We have a very nice trendline that price bounced off on multle occasion. A great oportunity to go long. Whatch the Moving Averages as always, stop loss at around 4.41 - 4.415 for high risk reward ratio. Good luck.
Heading into new trading week we can position ourselves on a nice short in EURGBP. In recent days we've been testing couple of Moving Averages as you can see the blue and green lines. We could not go back higher with failed breaks. Zoom out to see the Fibonnaci levels (respect them while trading). Trade profit at around 0,84. Stop loss if we get a close daily...
We're having a narrowing trend lines that allows as to define risk and trade between the "goal posts". Buy on the lower sell on higher trend line. When a break occurs wait for a confirmation (preferably daily candle close up) to avoid false signal. As always, keep in mind the 100 and 200 bar Moving Average on 1h ,4h and daily charts.Have a great trading week!
As you can see we have a trendline that's been tested on several occasion. It's safe to say to go short here - we've also got support by 100 bar weekly MA being a resistance. Watch for false breaks TP when price get's around the lower violet trendline