i am looking to be selling this position, as you can see the pair is moving in a sideways channel, i expect price to touch support before making a breakout to the upside. stop loss as always is tight use correct risk management
for the foreseeable future i will be testing out a new strategy, i advise taking small risk if you are to follow me as im ironing out the creases in this before sending trades out.
price is currently in an uptrend
tested support level
I AM EXPECTING A BULLISH MOVEMENT FROM THIS PAIR,
AS YOU CAN SEE IT HAS BROKEN THE PREVIOUS WEEKLY DOWNTREND AND FOUND RESISTANCE FOLLOWING NFP EVENTS ON FRIDAY.
IT IS COMING DOWN FOR A RETEST AND ALSO FOUND SUPPORT AT THE DAILY ZONE, IT HAS ALSO CROSSED OVER THE 200 SMA WHICH IS ANOTHER INDICATOR FOR A BULLISH MOVEMENT ON THIS PAIR.
IM EXPECTING WEAKNESS IN...
EXPECTING A RETRACEMENT FOLLOWING FRIDAYS NFP.
THE RESISTANCE LEVEL HAS TESTED MULTIPLE TIMES AND EACH TIME PRICE HAS BEEN HELD DOWN.
AS YOU CAN SEE PRICE IS IN A WEEKLY DOWNTREND, I AM EXPECTING IT TO CONTINUE AND FIND SUPPORT AT THE 200 SMA AREA.
STOP LOSS IS TIGHT
RISK REWARD RATIO IS 6:1