Trendline break (Weekly)
Todays Candle forming DOJI
Descending triangle in Play ( See 4HR)
- Big Wicks
I will take SHORT from Key Level support break to next support
I highly do not favour Long,
if there is bullish activity ill Wait for the short to come.
Currently in a ranging market as we have resistance that has failed to break April 2016 to present.
Weekly Trend line Resistance from 2013 has now broken
Recent Trendline Support (January 2016) Respected.
Recent Trendline Support (daily chart) December 2016 has been Broken So we are bearish for a retracement/bearish Period.
I am looking for price ...
Price is closing in on EURAUD
- Price has been Bearish September 2015 and We are now reaching KEY support Areas.
- Price can Either bounce off support 1.27 into Trend line Resistance then proceed to 61.8 Retracement on Monthly Timeframe.
- Break Support 1.27 and Test 61.8 Retracement on the Monthly TImeframe, Retest back onto 1.27 and Go forth of Bearish ...
Price has been Bearish Since 2014.
2015: Price Broke Key support Area
Price is Now testing Resistance.
3 Tests have Failed (September, November, Last Week.)
The reason For the Short.
- 200 EMA Respected
- 3 Test Failure
- Bearish Engulfing last weeks Candle, (Heavy Strength)
TP : 230 Pips from Current Price
SL: 70 Pips
If TP is met, Half Of position will ...
NOTE: This one requires Alot of Patience.
Monthly: Bullish TrendLine As it stands,
2011: Price Hitting Peak Levels and has been Bearish Ever since.
In 2015: Break of 61.8 (previous Support) Towards Downside Target of 0.786.
Price is NOW moving Bullish back up into the 61.8 (Resistance)
Price can either Break the 61.8 (bullish) & 200 Resistance With potential ...