Our last publication (see link below for reference purposes) witnessed price moving 60pips in our direction to complete a Double Top pattern before the rapid decline. Last publication on this pair I emphasized how the price was caught within a range above major Demand zone (Fr1.07800); Now that price broke down our Key level @ Fr1.07900 last week; I shall be anticipating a further decline in the following weeks.
Tendency: Downtrend ( Bearish )
Structure: Reversal pattern | Breakdown | Supply & Demand | Double Top
Observation: i. Price breaking down Key Level @ Fr1.07900 during the course of last week trading session emphasizes the Bearish tendencies in the market.
ii. I am anticipating the completion of the corrective phase for a signal to open a position.
iii. Fr1.07910 and Fr1.08200 remains a zone to look out for selling possibilities in the new week.
Trading plan: SELL confirmation with a minimum potential profit of 120 pips.
Risk/Reward: 1:4
Potential Duration: 3 to 7 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Downtrend ( Bearish )
Structure: Reversal pattern | Breakdown | Supply & Demand | Double Top
Observation: i. Price breaking down Key Level @ Fr1.07900 during the course of last week trading session emphasizes the Bearish tendencies in the market.
ii. I am anticipating the completion of the corrective phase for a signal to open a position.
iii. Fr1.07910 and Fr1.08200 remains a zone to look out for selling possibilities in the new week.
Trading plan: SELL confirmation with a minimum potential profit of 120 pips.
Risk/Reward: 1:4
Potential Duration: 3 to 7 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
