- Daily Chart >> Stochs over bought and price rejected off a resistance. Price is over extended away from moving averages as well
- 15min chart >> Price made a lower low and also made moving averages cross down for bears. Price currently testing the 15min 200MA and may bounce to retest the 21 moving average before coming back down.
If price crosses the 15min 200MA i expect to see price continuing down as it needs to correct to moving averages on the daily chart. Will enter a sell limit position at 121.735 and place a tp at 120.300. Will place stop loss a few pips above the point where the moving averages crossed (moving averages used are 14, 21, 55). Will also enter a small position at market position now just incase it doesn't go up too much. Stop loss is the same
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Disclaimer: The Trade setups are based on my analyses and ideas and they are not signals or trading advice. Do your own analysis before you enter any trade based on my shared analyses. Trades are entered once criteria is met....Remember trading is risky and we can't force the market in any direction..#ExercisePatience
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- 15min chart >> Price made a lower low and also made moving averages cross down for bears. Price currently testing the 15min 200MA and may bounce to retest the 21 moving average before coming back down.
If price crosses the 15min 200MA i expect to see price continuing down as it needs to correct to moving averages on the daily chart. Will enter a sell limit position at 121.735 and place a tp at 120.300. Will place stop loss a few pips above the point where the moving averages crossed (moving averages used are 14, 21, 55). Will also enter a small position at market position now just incase it doesn't go up too much. Stop loss is the same
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Disclaimer: The Trade setups are based on my analyses and ideas and they are not signals or trading advice. Do your own analysis before you enter any trade based on my shared analyses. Trades are entered once criteria is met....Remember trading is risky and we can't force the market in any direction..#ExercisePatience
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Trade active:
2nd position (sell limit was activated)
Trade closed: stop reached:
Price reversed hitting stoploss. not reentries . leaving this till next week