Monitoring price reaction at area support (previously resistance). Price are still in bullish channel, expecting to test higher at 0.92505.
Price action at current level are crucial for the next trade ideas.
Bias more on the upside, however potential break will side a downside move testing 0.90330.
Price at support zone. Stochastic are trying to break from mid level. Also, there is bullish divergence shown in Stochastic.
However, I prefer to see the price to break certain high before enter to BUY.
I believe the opportunity to sell is here already. Price are now at resistance level, bearish candlestick and follow the major trend of bearish.
However, always use stop loss and good money management as that is the holy grail of trading.
And I also believe in entering trade when the risk-reward is lucrative enough to go in.
Ada potensi untuk BUY di kaunter MYEG, tapi saya akan membeli di next swing low so saya jangkakan price akan jatuh sedikit tapi hingga ke level support 2.570 sahaja. Price berpotensi untuk naik lebih tinggi mungkin ke level 2.800. Dengan sentiment pilihan raya yang akan datang, saya jangkakan price boleh terus naik lagi kehadapan.
Using basic price action analysis, I believe that uptrend are very much intact and now price are making small index. Previous low not yet breached and now price are going higher.
Refer to chart to see key support and level.
Trading based on swing trader. Bearish crossover of moving average in the chart, however price try to retraced from 50% Fibonacci level. Expecting the price to go higher to R1.
However, need for candle to close higher for confirmation.
If break break the level, assumed trend to continue the downtrend and go lower.