USDPLN, encountering the EMA200 line, what could that mean?
It will probably have a certain stay at this level for a couple of days, if the ipk is one day with a big green Japanese candle, there will probably be a change in the trend and a transition to growth.
My personal opinion to begin with will stay here. and will have several tests.
The USDPLN (Polish Zloty) is overbought, and also in top range BB and also regression channel top. The candle stick also starts showing good top patterns.
Sell 4.1700 current for a move to 3.9800.
Here we have two big saints on the H4 chart signaling a big sale. I believe that this couple will start in a declining trend.
Entry: 4.1721
TP1 4.10
TP2 4.00
If the ratio returns as 4.21 we need to get out of the trade.
I risk only 3% of my capital.
start of implementation to the bottom.
the fibo level coincides with the upper border of the ascending channel, so this is the most likely target if, of course, it passes through 61% (there will be a slight upward movement) perhaps a little to the border of the H1 channel.
but I consider it risky to try go down.
Breaking above the .702 fib extension is a bullish indicator for the currency pair.
My immediate target is up at around 4.30 in the midterm (next few weeks to months).
From there we will have to see if the pair will respect the previous ATH on the pair or if it will execute the massive multi-year cup and handle and break out to ~5.50.
I plan to enter a small...
Why long?
-Poland has the biggest inflation in EU
-Poland has conflict at the boarder with Belarus
-Polish government hands out money a lot
-USDPLN crossed psychologic 4.00 area
Wait for pullback to 4.00
Remember about risk and do not overleverage your positions.
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Hesitation by the Fed and 50 basis point interest rate raise for Poland. Should be an easy move down until Powell decides to be tougher on inflation. Strong Reward to risk although this trade will take about a week to play out. Keep an eye on any FED move for an earlier exit
USDPLN. Price closed above EMA 10, EMA 20, Fibonacci Retracement Level. 38.2% Fibonacci Level is in line with previous highs and lows on the Daily Time Frame.
Market phases - Price Action
The market can only go in three directions:
1. up,
2.down,
3. sideways.
With high / low defined, we can use several charts to identify these market phases and start a simple search for our Swing Highs and Swing
Lows.
In short:
• the market rises when price makes higher highs and higher lows.
• the market goes down when the price makes...
