Simple Range play with support and resistance analysis. Nothing complicated nor bombastic. Happy Monday! If my posts have benefited you, please help out by liking my posts and following me. Do visit my Patreon page. Thank you for your support. www.patreon.com
EURUSD have been ranging from 1.150 - 1.185. We have a very nearby swing high at 1.175. Until US Session is open, price might go back to this area, which could give us an opportunity short. Or, one could just chase the price now with a slightly higher risk as your Stop Loss is wider. Stop Loss placed at 1.186, slightly above the previous swing high at 1.185. The...
HSI have been ranging from 29000 and 27800 for while. This make range play possible from buying at the bottom of the range or shorting at the top. On a weekly time frame, the trend is on the downside thus it might make more sense to short at the top range then to buy at the bottom. The decision to long is purely personal preference. If you are uncomfortable with...
This post is with respected to my USDCAD Short call that was made 5hours before Bank of Canada announcement. I managed to make 100pips profit in a short 1hour span. You may refer to the Link to my actual short set-up idea before the announcement was made. Here's the chart for your reference. The link is under "related ideas" I have explained my thought...
I have highlighted previous area where the swing low occurred (1200-1232). 1200 might seems to be a good psychological barrier/support where price can swing backup. This analysis is on a weekly timeframe. Its good to go into daily timeframe to watch for any form of bullish price movement to make an entry. We will revisit this for long entry if such price action...
Price are now back to the swing-high level of 1.330 area. However this area was pretty congested during June period which lead me to believe price is highly to get rejected again, at least for short term. 1.324 seems to be a short term support (on 1H time frame). Break this price level could mean a drop towards 1.313-1.316 area, which give us about 100pips to play...
USDCAD poke above resistance level at 1.3230, however it is showing weakness on 4H. There is another swing level present at 1.3260. SL is set slightly above this level at 1.3320 If my posts have benefited you, please help out by liking my posts and following me. Do visit my Patreon page. Thank you for your support.
While USDCAD is definitely bearish, chasing now will. Safer option will be to wait for price to retrace back to 1.322 - 1.330 range for better risk. Look for such retracement during asian and london session.
Given the pin bar formed on last Friday, we have established the current resistance at around 1.540. In term of mid term, we have 1.560 (blue box) acting as a resistance and a lower high. Short position is favored due to both short term and mid term trend being aligned. However expect some sideway movement between the two beige color box before price breaking down...