Disclaimer: Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Daily Analysis:
Price was previously stuck in some kind of range at the top of this last push, one thing that shows me that their is a lot of weakness to the upside is the amount of wicks that price had left when making a push down. Now, after that rejection price has not been able to be stopped and has been continuing to push lower and lower reaching the recent lows and stalling out for a bit. With a price confirmation on a lower time frame this could be a potential trade to the downside and could be one that could take a while to fully play out, if you are patient enough you could get a good amount of pips if it plays out in our favor. Wait for more confirmation on the lower time frames and decide for yourself what would be a good entry tailored to your specific system.
Hourly Analysis:
On the lower time frames you can see down below, price had tried breaking down below the 1.57778 area, price has now shown a lot of momentum to the down side and is showing only more of a reason for us to get into this trade. For the system that I trade if I get into this I already have a set risk amount which will be only one percent of my total capital at any given time. The only reason I would add on to my position or risk any more on a given trade is when I have my stop at breakeven and price is well below it, I might place another trade risking one percent overall.
I hope you all have an amazing trading week, and good luck to all of you out there.
If you have any questions about how I trade or you want more details, feel free to leave as many questions you may need down below and I will get back to you as soon as possible.
Thanks again,
Keyslot
Daily Analysis:
Price was previously stuck in some kind of range at the top of this last push, one thing that shows me that their is a lot of weakness to the upside is the amount of wicks that price had left when making a push down. Now, after that rejection price has not been able to be stopped and has been continuing to push lower and lower reaching the recent lows and stalling out for a bit. With a price confirmation on a lower time frame this could be a potential trade to the downside and could be one that could take a while to fully play out, if you are patient enough you could get a good amount of pips if it plays out in our favor. Wait for more confirmation on the lower time frames and decide for yourself what would be a good entry tailored to your specific system.
Hourly Analysis:
On the lower time frames you can see down below, price had tried breaking down below the 1.57778 area, price has now shown a lot of momentum to the down side and is showing only more of a reason for us to get into this trade. For the system that I trade if I get into this I already have a set risk amount which will be only one percent of my total capital at any given time. The only reason I would add on to my position or risk any more on a given trade is when I have my stop at breakeven and price is well below it, I might place another trade risking one percent overall.
I hope you all have an amazing trading week, and good luck to all of you out there.
If you have any questions about how I trade or you want more details, feel free to leave as many questions you may need down below and I will get back to you as soon as possible.
Thanks again,
Keyslot
