This is Not a signal to sell! As always I encourage you to Watch price action FIRST to see IF price breaks this key level in the market that is noted. Please see the attached idea which explains price action of this pair. Bullish momentum could be exhausting, given most recent price action.
Two things of note:
1. Price respect of trend line as noted. Note previous three touches.
2. Looking for possible drop to key area as noted, which happens to be 61.8% key fib level in the market.
If idea plays out this could give us a 500 pip move
Trade at your own risk. This is not a signal but simply and idea based upon price action if continues downward. Watch price action for break. To be more conservative, watch for retest and then a continuation to the downside. Always wait for confirmation before entering a position.
I share information here to educate but also teach my team to read the markets and trade. To learn more about how to trade forex and get the education to trade in the markets, here is my educational platform. We have a team of traders. Learn more about this skill where you can earn in the markets. You can join my educational platform by visiting www.imarketsliv....com/corp/cjoin?enroller=C...
I recommend either of the two packages but the platinum package is sufficient. If you refer two customers to get the education your monthly fee after you join is waived. As you learn you can earn in the markets and have support of top traders. We study together, support one another and share signals.
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Two things of note:
1. Price respect of trend line as noted. Note previous three touches.
2. Looking for possible drop to key area as noted, which happens to be 61.8% key fib level in the market.
If idea plays out this could give us a 500 pip move
Trade at your own risk. This is not a signal but simply and idea based upon price action if continues downward. Watch price action for break. To be more conservative, watch for retest and then a continuation to the downside. Always wait for confirmation before entering a position.
I share information here to educate but also teach my team to read the markets and trade. To learn more about how to trade forex and get the education to trade in the markets, here is my educational platform. We have a team of traders. Learn more about this skill where you can earn in the markets. You can join my educational platform by visiting www.imarketsliv....com/corp/cjoin?enroller=C...
I recommend either of the two packages but the platinum package is sufficient. If you refer two customers to get the education your monthly fee after you join is waived. As you learn you can earn in the markets and have support of top traders. We study together, support one another and share signals.
Feel free to like and comment and also follow my Instagram and Facebook (links below)
Trade active:
We got a nice bearish impulse. Wait for the pullback before entering. Happy Trading! Join my team for this and more great trade set ups.
Comment:
A few things of important note. 200 MA on the daily. Price could use as dynamic support; 50% fib level approaching. possible head and shoulders. See below. This is not confirmed.
Comment:
Contra trend may not pull back as far (short lived buy only) Watch price action for continuation downward after brief pullback. Protect your profits always.
Comment:
Looking for continuation to the downside. Right shoulder formation was weak. pulled back to resistance see below
Comment:
How are you hanging? I still believe the recent bullish price we saw was a retest to the trendline. Entry at the correct place so we don't feel the blow of the retracement is very important. Depending on where you entered, you may have experienced drawdown, but not to worry. Use proper risk management and stop losses and you will be fine. This trade idea is still active. See below for chart
Comment:
Price is flagging within a pennant. Expecting to see fall to level after the flag is complete
Trade closed: target reached
