GU BIAS: BULLISH; CURRENT MARKET CONDITION: RANGE BOND
Hello traders,
Good morning there. I hope you remember that I told you in my analysis yesterday that the overall market condition is bullish, and that the market will still go up to reach the previous high, which happened as predicted. The question now is what next? What is going to happen next? I know you want to trade, but be patient here to avoid an unnecessary loss to the market. Surely, many newbies will lose here due to their impatience. You have to be patient enough to be able to see the next market move.
The chart to use for the analysis this morning is from the H1 timeframe. As you can see that the market is in range (trying to push back from the fair value area, that is, around the 50%-61.8 fib level), I didn't use the Fibonacci level though, I think that should be the fib area. If the current candle happens to form an engulfing candle, I think we can buy this pair, but the most reliable signal should come from the H4 timeframe.
Signal: an engulfing candle has formed above the trendline. You can target the previous high for take-profit. Place your stop below the trendline. Don't be greedy.
Take-profit:1.24322
Stop:1.23707
Entry: Market order
Good morning there. I hope you remember that I told you in my analysis yesterday that the overall market condition is bullish, and that the market will still go up to reach the previous high, which happened as predicted. The question now is what next? What is going to happen next? I know you want to trade, but be patient here to avoid an unnecessary loss to the market. Surely, many newbies will lose here due to their impatience. You have to be patient enough to be able to see the next market move.
The chart to use for the analysis this morning is from the H1 timeframe. As you can see that the market is in range (trying to push back from the fair value area, that is, around the 50%-61.8 fib level), I didn't use the Fibonacci level though, I think that should be the fib area. If the current candle happens to form an engulfing candle, I think we can buy this pair, but the most reliable signal should come from the H4 timeframe.
Signal: an engulfing candle has formed above the trendline. You can target the previous high for take-profit. Place your stop below the trendline. Don't be greedy.
Take-profit:1.24322
Stop:1.23707
Entry: Market order