About meLogical and emotionless technical trading. No news, no speculation. Precise and decisive entries and exits, win or lose. Making top hedge fund gains look like the interest earned on an HSBC savings account.
Got into this earlier in the week. Note the large Bullish candle breaking and closing above the significant resistance, and then a smaller Bullish engulfing rejecting the other side of this level as support. Reward, as always, is 2 to 1.
Currently heading north to a significant bounce point, it will tie in nicely with the outer Bollinger band. All I need at this level is the correct candlestick pattern and I'll jump in short with target 2:1 at recent low.
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.
Similar to EURJPY. Currently at a resistance level, so watch for some candlestick patterns to form here. Failing this, we may head up to the higher resistance area, take out the stop orders from trader's holding sell positions and then maybe get some Bearish evidence to get short.
Recent resistance has been broken and it's looking like the current Bullish engulfing is rejecting the past resistance as current support. As always, 2 to 1 reward to risk to target the recent swing high .
If we see a close at or beyond the current level, then I will engage in a Buy set up. R:R is 2:1. Pull back requires and stop loss is 5 pips below the lowest candle in the 2 x candle signal, which in this case is the low of the black candle.