DonovanYong

DonovanYong

Buy Limit 1.1420, SL 1.1250, TP 1.2280

DonovanYong

Reason for trade: Weekly: Previous setup that exited in a loss is still valid, as price did not follow through the bearish momentum to break down lower. On weekly perspective, a bullish engulfing bar is finally forming after price is being supported for almost about 6 weeks. Weekly moving averages is still up, suggesting there is...

DonovanYong Updated 

Reason for trade: Weekly: Price has been consolidated for about 7 weeks in a row. I believe it could be a switch of hands for price to advance lower. B/B setup/trade. Aligns with weak EUR as well. Daily: Broke of trend line and MA's crossover for extra confirmation. Prior last friday, we had a bearish engulfing wiping out the gains of the ...

DonovanYong Updated 

Reason for trade: Weekly: A strong bearish engulfing candle was evident, breaking the neckline 1.17 area of support turned resistance. Indicating strong selling pressure on weekly timeframe perspective. Likely for bearishness to continue till 1.14, then 1.12. Daily: Price was previously sandwiched between a support and resistance. My initial...

DonovanYong Updated 

Reason for trade: Weekly: Lately we had a bread & butter setup/trade that followed with a bull run, netting +800 over pips on a single trade that lasted 1 month. After that, market went into retracment mode and 2 weeks of consolidation(doji candles), showing us a nice and clear zone of support at 1.68 region(coincides with 61.8% fib...

DonovanYong Updated 

Reason for trade: Weekly - Price has been consolidated for the past 1 month. Weekly timeframe perspective wise, it has been well supported for 4 weeks. Thus it qualify as a bread & butter setup/trade. 23/10 Weekly candle shows high volume. Thus was waiting for the following week for the market to present itself with a bullish...

DonovanYong Updated 

Reason for trade: Weekly - Price has not been able to hit lower for the past 1 week based on weekly timeframe , 1260-1270 proven to be a strong support Daily - High volume coming in at area of support that coincides with previous high volume trenches.

DonovanYong

I'm bullish as long as 1264.5 holds. First stop shall be 1297, then 1308. Next week shall be big bang & a primer for price to move towards our intended direction. I will be leaving my TP open for now, looking to hold as far as it can go. Will monitor closely and update accordingly. Cheers,