lionpridefx

lionpridefx

16:05 PM GMT Entered a short at 0.73396 average. Entered after price failed to break a major resistance level which had previous rejected falling almost 70 pips prior to in almost a perfect range of R/S. Over 50 pips secured, 20+ pips short of this prediction.

lionpridefx Updated 

As price broke the 0.7400 level and reached it's 2 year high around 0.7414/15 & rejected, I am being extremely cautious w/ this pair after such a long bull streak, I am however expecting a major correction. We have support around 0.7340 area, however price is testing a smaller support around 0.7360 w/ the previous 1H candle closing w/ rejection of this level....

lionpridefx Updated 

Price is rejecting higher TF resistance and forming a bearish engulfing candle as the hour closed. This tells me we may see short term retracement before continuing upwards. Considering bull momentum exhausted after 2 wave impulses, we could see price break below .7200 and close below confirming the overall uptrend has ended.

lionpridefx

We can somewhat see that price has been ranging as price hasn't formed a clear direction thus far. With the high of 0.7275 that was reached on the 20th of this month, we've been in a slow decline w/ price breaking below the resistance at 0.7205 which was revisited in London this morning, but failed to close/trade above, thus we may start seeing a reversal of trend...

lionpridefx

AUDUSD continued to rally as price failed to break 0.68446 support zone and pushed roughly 72 pips up, where it touched the top of the trend line around 0.6917 further confirming an overall downward trend on multiple higher TF's. As price failed to close above the trend line, we placed some small positions Pre-London, w/ a stop just above the trend line w/...

lionpridefx

USOIL Price skyrocketed w/ the release of OPEC+ news as members make new plans to meet their production-cut targets as they have previously failed to meet last month. We can see that historically, the price of Oil broke out of it's overall downtrend towards the end of April (Starting from April 28th) w/ price reaching a Key Support Level around 10.22 area & then...