Watch USOIL as it will be the biggest deciding factor on the overall direction. (Long term we have a bullish bias on USOIL because of the extremely cheap prices and levels we're in).
Please risk accordingly, this is a SWING position. We are anticipating downside this week and will manage our positions accordingly. Please risk 1 - 3 % maximum on this trade.
Hit a key monthly 61.8% retracement level.
With last weeks candle closure and h4 forming a potential double bottom, and h4 divergence signifying a potential reversal, this is a counter trend trade looking to take into the next significant daily/monthly pivotal level and next significant structure.
I am placing a buy limit on BTCUSD @ 6800
Stop Loss 6200
Btcusd bottom out last year where I bought @ 1800 and took it to 17000. I'm expecting this to potentially be the bottom of 2018. If this level doesn't hold it is possible we see 3000. With proper risk management this is a good level to try buys. If it doesn't hold we will simply try again at...
Sell Limit EURJPY @ 131.260
SL @ 131.560 (30 Pips)
TP @ 130.360 (90 Pips) (3R)
TP 2 @ 129.900 (136 Pips) (4.53 R)
H4 Head and Shoulders Pattern, entry based off 50% retracement, stop loss above right shoulder, take profit are previous highs and a proper measured move of Head and Shoulders pattern that aligns with structure.
__Short EURAUD @ CMP (Current Market Price)__
**SL:** 1.5800 (50 Pips)
**TP 1:** 1.56180 (132 Pips)
**TP 2:** 1.55520 (198 Pips)
__Notes:__ Trade based off of Supply structure on the daily. Price hit 61.8% retracement from the highs of the year. Lower time frames are showing a reversal along with divergence on the RSI. Trade is taken on...
Signal NZDCAD Sell Limit @ 0.91280
SL: 0.91600 (32 Pips)
TP: 0.89800 (148 Pips)
Analysis: Entry based off Daily pivot/38.2% Retracement. Stop based a bit higher than 78.2% retracement. Weekly 50% Retracement hit, multiple daily candles failing to bring price higher. Breach of Bull trend channel. Price has been forming distribution and target is 50% level,...