EURPLN Swing long. Price is at weekly support which as held for a long time, this is also first retest of this strong support areaexpecting swing up to weekly resistance . first tp 50% at 200ma
Hello fellow traders,
this idea is based on a price channel and RSI low levels indicating there is yes more sales and price might reverse- always protect your trade with a s/l, here is the risk reward 1 to 2.8
this is not a trading advise!
EURPLN is finally waking up and moving out of the base. Pink lines are potential take profit targest. As you can see all major MAs are coiled as well and ready to flare.
Wait for price to close above the channel low before entering a Long trade with a target below the high of the channel. Stop Loss below the last pivot low.
On Sunday, there will be elections, and this artificially maintained financial situation in the country, just like fuel prices, might burst like a soap bubble.
Fuel prices are artificially being kept low, and some gas stations are not operational due to fuel shortages. The government is distributing money left and right, all to win the elections. Winning the...
A combination of sideways trading over a 6-week period, a mild buy signal on the DMI and the fact that price is consolidating above its 55-day ma all suggests to us that the market is trying to base.
We have cloud resistance that the market is pushing quite hard into, and should we see a close above 4.5042, the recent high it should be well placed for further...
EURPLN has finally bottomed out, created a nice round bottom and is starting to crawl upwards. Price is trading above both major moving averages (100 and 200) on H4. As you can our first target should be the 38% Fib retracement and our second longer term target is around the 61.8% Fib, just near the volatility gap.
EURPLN after long bearish run finally showing us some resistance also regular divergences working towards reversal movement, the most important question is. Is it right now or after a bit?
Analysis:
EURPLN price is currently in range. We can take following trades on the bases of Support and Resistance levels.
------ Trade ------
Chart: EURPLN
Type: Long
Entry: 4.71925
Stop Loss: 4.71286
TP1: 4.72564
TP2: 4.73203
------ Trade ------
Chart: EURPLN
Type: Short
Entry: 4.67775
Stop Loss: 4.68600
TP1: 4.66950
TP2: ...
Observed Non-Trending Market on EURPLN (Euro / Polish Zloty)
Applied Strategy
1) If the market performs an up-trend, the "Buy Stop" order shall trigger at 4.7300 and make a profit of a 1:1 ratio.
2) If the market performs a down-trend, the "Sell Stop " order shall trigger at 4.652 and make a profit of 1:1 ratio.
