After being short on this asset class for the whole week, due to a bearish stance on global demand, over supply, a tremendous rally presenting over bought conditions & doubtfulness in global trade agreements, after witnessing a clean break of the ascending trend line last week I increased my position sizing, with the negative crude inventory data released...
Following 3 successful trades with trend, fundamental & technical confluence, we appear to be attempting a breach of the descending wedge, I believe due to the UK restarting their economy and the US Covid 19 cases growing at a quicker rate, the GBP will be favoured temporarily Will hope for higher CPI figures to be achieved by the UK on July 15th
Following a struggle to break 108 Yesterday, a Sell Stop order we had placed has triggered, with a R:R of 1:3
Fundamentally biased to a dollar sell off today due to escalation in corona virus issues, of course Japan is facing similar issues but on a smaller scale and due to a recent dollar rally my bias has sided with the JPY today
I have opened 2 long positions on BTC after identifying momentum loss on a key support region and long term descending trend line, that BTC had broken to the upside on 26th of October and had now returned to retest. I am taking this position purely on a technical basis due to good Risk to Reward, I will look to take profit at the upper end of the channel and aim...
Here's an idea of a Long Oil Position taken, I have set 3 TP zones with a SL at 55.3, RR is 1:6.2
I have taken this position due to the recent break of long term Descending Trend Lines, this led to Oil pushing into the 58 Zone and after positive news today I believe we have seen a manipulative push down before gearing up for a Push towards the 60$ Region