I have analyzed and seen the weekly and daily timeframe being bearish, these are the main timeframes, so I went to the four hour timeframe to look for opportunity to short, then I spot the resistance zone just below the 50 exponential moving average, now expecting a retracement to the moving average then take shorts.
Good Morning traders
Today we have the non farm payrolls coming out, For now I have my eye on GBPUSD, expecting the volume to carry GBPUSD lower, Price is trying to break support, We need to see price break and close blow current m30 support and then retrace and reject before we can consider selling,
My 1st target is at 1.25550 where I will secure most of my...
Good morning traders, were back!
Been a pretty slow week so far only managing to capitalise off partials while price has been trapped within a range on the H4.
We have seen GBP start to explode out of consolidation yesterday morning.
Are we going to continue this bullish momentum to set lower lows, let me know your thoughts below.
During the US Session between 11 am to 12:30 pm EST is the London Close time range to trade. London Session ends and pairs will have a small reversal as they close out many of their trades. The EURUSD is the best pair to trade this strategy. 10 pip scalp trade.
Signal Specification:
Pair: EURJPY
Order: SELL
CMP Entry: 132.592
Take Profit : 131.485
Stop loss : 133.202
Risk Vs Reward: 1.81
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4. 2% Risk Management Per...
Overall we are long on this pair through conducting our top down analysis. On the monthly, weekly, daily time frame we have bullish signals.
However, analysing the 4 hour window it seems as if the 5 Impulse wave is in play. If the 5th wave does complete around 0.64800-0.6500 we then can look for bearish signals for the corrective wave. However if price breaches...
