I am relatively new to the trading scene and recently have been studying techniques using raw price action. I am also trying to improve on my swing trading as this fits into my daily routines/lifestyle better.
In this analysis I will be waiting for a break of key level 0.99 (also I believe to be a phycology level), before shorting this pair for around 300 pips. Price has recently broken a weekly ascending trendline and now just waiting for pullback. I will be waiting for the break and retest on daily charts before finding an entry on 4H.
Any tips/comments please leave below.
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06/05/19 21.59
Price has tried to break through 0.99 however we have had two daily wick rejections. Price may pullback before finally breaking through. I will be waiting for a clear daily break and retest on daily, will have eyes on over the next week or so. Will be interesting to see how NFP tomorrow affects USD.
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Price broken out now looking for retracement
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I will be looking for a buy on wave 4, at the 1.618 fib extension. Then looking for the short. going to do a post on this buy trade