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It looks like we will be pretty active with this pair over the coming weeks, we are first looking for a short, then if this plays out, we will be looking to buy back to the potential 61.8 Fib zone before shorting again to new lows.
After last week two trades were stopped we are slightly wary regarding this pair. We are still expecting a pull back to where the ascending and descending trendline cross. This is a strong level of previous support and resistance. We will wait to see how the market reacts to this zone before looking to enter.
Last week the market ranged around 50Pips, and couldn’t break through the resistance level of 0.89311 or break support of 0.88895. We are looking to short this pair if we see a retest of resistance once we see some candlestick confirmations on a lower time frame.
We were looking to go long on this pair, however the pull back didn’t come to our entry and we missed this by 40 pips. We saw the market stop at the 50 Fib.
We have a descending trenline that were approaching fast, if we can see a rejection of this we could still get a retracement back to our level of entry.
We can see a clear break of the ascending daily trendline, we expect a pull back to the 0.99797 zone where we will look to short somewhere in between the 50 and 61.8 Fib on a strong level of resistance.
We are targeting the weekly support level of 0.95826
Here we can see that the market found support around at the 108.110 zone, we expect a pull back to test the descending trendline.
We will be looking to enter short around 109.169 which will be on the previous support level which we believe will now become resistance, it will also be on the 61.8 Fib and touching a descending trendline.
Broke ascending trendline and found support at 1.32702. If this is the low we would like to see a bullish run back up to the support/resistance level of 1.34426 which would fall inbetween the expected Fib Zone of 50-61.8 before we look to short down to 1.31315
Looking to short on the 4hr chart around the strong level of resistance of 1.62668 area.
We think that this should run down to the weekly ascending trendline. This potential trade has a great risk reward ration so we will be looking for the sniper entry this week.
We saw a clear break of the decending trendline that has been respected for nearly a year. We expect the market to find resistance around the weekly level of 1.14067 before a pull back to around our potential long entry of 1.12500.
We will be looking to entry short if we see a rejection of 1.14067 zone before going long at 1.12500.
Respected the weekly level back in April where we shorted down to the bottom of the red zone. The market broke that and found support at the 0.68858 Weekly level.
Expecting a run back up to around 0.70611 before we may look to short.
The market broke through the support zone of 77.772 - 77.525 at the beginning of last month and we have now found support on the weekly level of 75.383.
We are expecting a pull back to retest the previous support zone of 77.525 which we think will now become resistance, also this level falls perfeclty on the 50 Fib from the previous high of 80.779 to the...
We can see a clear break of the descending trend-line that has held strong from August last year.
We have created a new high on the break of this Descending trend-line with the pull back already at the 50 Fib.
We are looking to enter on the 61.8 Fib which is on a clear level of support. The entry will be sent out when the market is open as we will use the 4hr...
Market has broken Long Term Descending Trendline to form a new high,
We have drawn a Fib from the previous Low to the new high, and the market has now came back to test the 50 Fib Zone, which is also re testing the back of the descending long term trendline.
The market is now on a level of support, and has also broke the new inner trendline give a further...