ForexHermes

ForexHermes

I did not manage to forecast yesterday, but luckily nothing crazy happens on Mondays. Here we are looking at a possible sell set up on UJ. I see 2 possible scenarios: Scenario 1: Price breaks the 108.096 zone and retests it , giving us a sign that bearish momentum is starting to pick up. Scenario 2: Price breaks the 108.389 after creating a new recent high, that...

ForexHermes

With a channel forming and the wicks becoming more prolific, I am definitely waiting for the recent High to be broken and a retest to happen within the 1.19462 zone. As simple as that. This might be the end of the current downtrend (L,H,LL,LH) and start of an uptrend(H,L,HH,HL). Probably looking to get in with a 15 pip SL and will be trailing my SL till the trend...

ForexHermes

EJ has been quite corrective so I will be very cautious with my entries on flag formations. However, I do see a POSSIBLE set up. I am waiting for a HL to be formed and the previous High to be broken within the the RECENT levels I have on the chart. Once that happens, I am good for entry. However, as stated, EJ is super corrective so I am not committing too hard...

ForexHermes

The Current Market Space is not ideal for me to trade, so I am waiting for the recent high/low to be broken and a flag to appear once price has impulsively broken these levels. I trade the flag differently from the conventional teachings, because the way I trade them allow me to reduce my risk as soon as possible and allows me to ride the momentum of the trend...

ForexHermes

Overall I am bearish Biased , so I want to see the 81.917 level violated and I want to see clear price action that price wants to move away from the level. However, if the 82.406 level is violated, I will go for a buy once price shows clear signs of momentum away from the 82.406 level. NO BREAK, NO TRADE. 1:3 RRR Goodluck my friends!

ForexHermes Updated 

Since price is hovering at the top of the bento box I'm thinking of looking for a buy more than looking for a short. However, I think it's important to note that the market can go to the downside and show us its ready to head down. The biggest thing I'm looking for is avoiding the monday fakeouts , as I have noticed that fakeouts occur more on mondays than any...