Now don't get too excited we could be in this range till November/December - Let me explain further why?
Fundamentally to get the markets moving :
- Uncertainty from elections - the polls may not be as trust worthy just like it was yrs ago..
- We are still playing circus act with stimulus (QE)
Whilst this plays the same way - we will be in a range until things have settled with those two fundamental drivers.
Technical view :
- Formation: Bear flag
- For this moment of time concentrate on the channel - until it isn't broken the Bulls are still in control - after it breaks out take the trade down or wait for the longer term buy opportunities where I have noted Buy Zones.
- Play the range, there are opportunities.
Longer term targets still stand the same as my previous analysis on EURUSD.
Key Tips: Treat trading like a business, you want to buy at the best price and sell it at a great opportunity and check where are we within the cycle economically- PRICE IS KEY.
Have a great week ahead.
All the best,
Trade Journal (TJ)
(Disclaimer: Just a trade idea, not a recommendation)
Fundamentally to get the markets moving :
- Uncertainty from elections - the polls may not be as trust worthy just like it was yrs ago..
- We are still playing circus act with stimulus (QE)
Whilst this plays the same way - we will be in a range until things have settled with those two fundamental drivers.
Technical view :
- Formation: Bear flag
- For this moment of time concentrate on the channel - until it isn't broken the Bulls are still in control - after it breaks out take the trade down or wait for the longer term buy opportunities where I have noted Buy Zones.
- Play the range, there are opportunities.
Longer term targets still stand the same as my previous analysis on EURUSD.
Key Tips: Treat trading like a business, you want to buy at the best price and sell it at a great opportunity and check where are we within the cycle economically- PRICE IS KEY.
Have a great week ahead.
All the best,
Trade Journal (TJ)
(Disclaimer: Just a trade idea, not a recommendation)
Trade active:
Broken out - As long as we don't go above into channel area - price of: 1.17800-1.17700 areas act as resistance. The bears could gain further control.
Trade active:
3/4 Profit taken.
Trade closed: stop reached:
I had 1/4 left - tight stop as I moved it down - Out of position at break even. However, overall profit made. Next move to keep an eye on Stimulus..
Trade active:
Short - Taking profit 1.17100 Areas.
Trade closed: target reached:
Target reached, now that was a trade that required a lot of patience. Well worth it! Be careful next week going near to elections results...If we get one quick!