If you see this Monthly chart, it's obvious that my main bias will be Short for this one.
You don't want to buy at Monthly highs or a zone full of Sell orders waiting to get filled in.
We have rejected the Monthly S&D zone and we have completed the Monthly -27 Fib.
These are indications for a Short set-up.
Is it possible to break this zone to the upside? Yes of...
Here Is the Idea
Target - We have tons of equal highs on the monthly and I believe we will be making a run for them this week or at least sometime this month.
I like the fact we respected an old support level + cleared 3-4 weekly lows + reversed on them and closed above.
This is the type of behavior I like to see. The close above the lows shows not only were...
Although price has broken structure to the upside, we are moving very correctively and we are approaching a high value/confluence level. If we see a rejection, we could place a risk entry at the top of structure to catch the potential move.
very good short coming up on this pair! Set up couldnt look any better, break of an uptrend, retouch candlestick on the 50% fib line which is also a new key level of reisistance, and this pair is about to melt in the coming days/weeks. Cant wait to see how this trade plays out, Could be the trade of the year.
PRICE IS FINISHING THE CONSOLIDATION PERIOD. EXPECT A BREAKOUT.
ON THE CHART ATR LEVEL OF 1.4113 AND BEYOND THAT IS CONSIDERED AS HIGH VOLATILITY FOR THIS CURRENCY PAIR.
ENTER TRADE ABOVE 1.4113 VOLATILITY LEVEL; CONFIRMATION SHOULD BE A BREAK OF THE 106.326 FIB LEVEL.
ENTER TRADE ENTER TRADE ABOVE 1.4113 VOLATILITY LEVEL.
IN ORDER TO...