We have seen price bounce back from the 1.34530 area to 1.32831 where it meets previous support.
We also see a daily inside closure and further upside movement on the pair today.
Further confirmation of the following can be taken in to consideration also.
1 - Daily Inside bar closure above the previous day - shows us buyers are coming into the market...
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%