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UK OIL & GAS PLC ORD 0.01P, LLOYDS BANKING GROUP PLC ORD 10P, VAST RESOURCES PLC ORD 0.1P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), VODAFONE GROUP PLC ORD USD0.20 20/21, PREMIER AFRICAN MINERALS LIMITED ORD NPV (DI)
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long term swing position
With this pair we have many confluences to the downside however we are currently ranging and i wouldnt be taking any trades during this consolidation period.
1.monthly chart January candle closed as a spinning top with the candle before that being a hammer.
2. Monthly all emas acting as resistance
3. Yearly fib drawn from 2016 highs showing price is ...
Fib drawn from december lows suggest this pair is still quite bullish, along with the 50 & 20 eras acting as near term support down at the previous weekly resistance level 1182.85 with also a significant hammer bouncing of the 38.2 retracement level.
i will be taking a long position once the long term trend line and Monthly resistance is taken violated and ...
Wait for retracement
Charts explains all
This order is only active on a 4hr Close the 20 EMA ( Channel Return, Close Below MW Res )
TP 1 : 0.7075
TP 2: 0.6960
SL: 0.7220 D Res
Chart explains all