Sell below 0.7837. Stop loss at 0.7904. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has whipsawed around our entry yesterday. We remain bearish below 0.7837 resistance (Fibonacci retracement support-turned-resistance, pullback resistance) for a further drop to at least 0.7738 support (Fibonacci extension, horizontal swing low ...
Sell below 0.7837. Stop loss at 0.7904. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has dropped really well for our selling area. We look to protect our position by closing half and moving the rest to breakeven. Our view is to remain bearish below 0.7837 resistance (Fibonacci retracement support-turned-resistance, pullback ...
Sell below 0.7891. Stop loss at 0.7955. Take profit at 0.7789.
Reason for the trading strategy (technically):
Price is dropping perfectly as expected from our selling area. We remain bearish looking to sell below major resistance at 0.7891 (Multiple Fibonacci retracement, bearish price action) for a push down to at least 0.7789 support (Fibonacci retracement, ...
Sell below 0.7834. Stop loss at 0.7872. Take profit at 0.7768.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7834 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off this level to push price down to at least 0.7768 support (Fibonacci retracement, horizontal overlap support, ...
Sell below 0.7891. Stop loss at 0.7955. Take profit at 0.7789.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7891 (Multiple Fibonacci retracement, bearish price action) and we expect to see a strong drop from this level to push price down to at least 0.7789 support (Fibonacci retracement, horizontal overlap ...
Buy above 0.7794. Stop loss at 0.7748. Take profit at 0.7868.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and reached our profit target. We prepare to buy above major support at 0.7794 (Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7868 resistance (Fibonacci retracement, ...
Sell below 0.7868. Stop loss at 0.7913. Take profit at 0.7791.
Reason for the trading strategy (technically):
Price has reversed nicely below our selling area last week. We remain bearish looking to sell on the pullback to the resistance area of 0.7868 (Fibonacci retracement, overlap resistance, bearish price action) for a further push down to at least 0.7791 ...
Buy above 0.7868. Stop loss at 0.7793. Take profit at 0.7974.
Reason for the trading strategy (technically):
Price has now started to test our support buying area. We remain bullish looking to buy above 0.7868 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement) for a push up to at least 0.7974 resistance (Fibonacci retracement, ...
Sell below 0.7991. Stop loss at 0.8037. Take profit at 0.7916.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and reached our profit target perfectly. We prepare to sell on major resistance at 0.7991 (Fibonacci retracement, horizontal overlap resistance) for a push down back to 0.7916 support (Fibonacci ...
Sell below 0.7889. Stop loss at 0.7933. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has risen back up to our major resistance area of 0.7889 (Multiple Fibonacci retracement, horizontal swing high resistance, Fibonacci extension) and we expect to see a strong reaction from this level to push price down to 0.7738 support (Fibonacci ...
A good short setup, but is advised to be taken only after a confirmation on lower time frames (H4). We need confirmation because of the possibility of a Head & Shoulders in progress with the right shoulder projected around 0.80600.
We had an impulse move to the down side. Price then retraced a bit. Looking for a Lower low lower close for entry reason. Stop is just above the swing high. T1 is @ a retest of the lows & T2 is @ the 127 ext of the impulse move down.
Price action on 30 min periodicity is approaching the top of a short-term upward trend channel as well as longer-term resistance. The trade incorporates an acceptable Risk/Reward ratio, acknowledging existing support and resistance zones. The time frame target for trade development and completion is 2 - 4 days.
Stop Level - 0.7840/45
Entry - 0.7815
Profit Level ...
