Baite

Baite

Based on a head and shoulder formation.

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Weekly and 4HR Price Action

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Been on trying out the strat and applying other knowledge on price action. Here I try to trade the retest to the upside with a tight stop loss.

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Price seems to have made the high of the week, but use of stop loss key as the week just started..

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Technicals: Low of the Week expecting likely price reversal Fundamentals:the dollar could weaken further due to the stimulus package talks. Trade Management: Place Stop Loss like 20-30 pips range. TP 1: 10Pips , TP 2: 20pips

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Technicals: Price action may retrace the previous spike up. keep watch though due to the JPY weakness in the past few days. current support broken.

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Potential buy opportunity: Technically: Previous support restest possible before further downward. Fundamentals: USD may strengthen slightly before the continued weakness. Always exercise proper risk management as this is not investment advice just a learning opinion.

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Fundamentals: With US Elections down to the last four states, the results will definitely shake the markets but still USD Comes to a winner. Fundamentally the markets moved up and hence dollar weakens but when the dust settles dollar strength is anticipated. Technically: The price is at a resistance level and been on a bullish run this week. Sentiments: USD...

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Technical Analysis; A Sell idea on the GBPUSD on the 4HR based on the support and resistance levels with the trendlines. Fundamental Analysis; With the Brexit negotiations not yet concluded we could potentially see a drop before a pump. On the flip side, the USD could experience strengthening before the elections. Risk Management is critical on this pair...

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Technical Analysis; EU at Resistance level and we expect to spike down to levels below 1.1800 Fundamentals; Euro has had spiked up on the positive German Manufacturing numbers, USD is at a critical point before the US Elections and has been on its low levels a rebound to risk-off may suffice. Sentimentals; The levels of 1.1800-1.1900 have previously been sell...

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Technicals; Price on downward trend, It has just crossed the 50-MA on both the 4hr and 2hr HTF. But we have our SL on the previous candle high just incase the week ahead opens with a reversal upwards.

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Technicals; RSI at overbought levels and the downward trend at the critical resistance level. Unless the weeks open on the upward trend continuation we have a great sell opportunity. Exercise proper risk management, here we are expecting a handsome RR 1:5.

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Technically price is at a level where you can only make a move once the market provides direction either upside on break of the resistance level OR downside on the reversal of this level. Fundamentally; Euro is at crossroads which much happening on Brexit and US elections plus the stimulus debate that keeps coming up. hence a wait and see approach for this pair.

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Resistance and support levels on the 4HR if they hold we have the continuation of the reversal

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Based on the 1Hr RSI and the basic fundamentals around corona virus spike in the US, Regardless of the FED intervention a drop in the index is looming.

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Trade bias sell setup