Price has found it difficult to penetrate and close below the (141.536) Resistance zone.
After key components inline with release of news and technical price has successfuly closed below the 141.536 area. Looking for further downside movement in the coming week.
Price currently hovering at the 0.38 fib retracement zone, looking for further bullish price action on this pair as per long term key support and resistance zones on higher time frames on Weekly, Daily.
Allow for confirmation of price before entering.
Target 61.8 Fib (142.325) following to next Resistance zone 144.507
Stops - no more than %2 of capital risked...
I just draw on charts and make pips don't know anything else.
Enter on shorter time frames such as Daily/4HR for precise entry points and let the trades run.
Risk no more than 2% of account.
COUNT PIPS COUNT PIPS COUNT PIPS NOT MONEY.
Monthly - bottom zone and Lower Lows
Weekly - Sellers have taking over the trend + Strong BEARISH engulfing candle close
Daily - Look into entering short next week after a pull back and then re enter.
Precise entry on 4HR & 1HR time frames.
Risk no more than 2%
The instrument has moved significantly low and we can determine this from the higher time frames on Weekly/Daily and 4hourly. Bears have overtaken the pair by a storm looking for further downside movement from now on till next week.
Be causious of fundamental analysis and enter trades once a clear brake has been defined on higher time frames however look on...
Price has gained more strength over the past few days and it looks like bulls have finally taken over.
Long Set Up is pending after the pull back. Remember the market moves in a series of Pushes and Exhaustions. We are going to see a Exhaustion before further upside movement.
Risk No more than 2%
Lets see how this ones goes.