WE had one impulse in 1H chart and now we are in correction phase. I expect another strong impulse up. The move will be confirmed when descending trend line (resistance line) will be broken.
Probably there will be some more move down before that, but I do not think it will be more than 40p
It is always a little tricky to open a new trade in the very beginning of the week but I still post it.
I see here clear Resistance line tested multiple times before and right now we have a high probability trade with great R/R ratio. I expect a big move towards 1.11 and further up to 1.13 and even more.
A beautiful opportunity to open sell with high R/R ratio. Now the price is at the Resistance level and far above dynamic support lines.
After reaching first target I will close half of the position and will trail the rest.
Based on price action I expect price will go up. SL is apprx between 15.0 and 15.1 depending on risk one is willing to take. There may be a long shadow down which is not a valid reason to close the deal. If SL is hit and then price will go up again to 15.1 and above, I will open the position again.
The last closed candle on the chart is within boundaries of the previous one and right now price is already below previous close. I expect the movement down with RR ratio 1.6 (see SL and TP levels on the chart).
Usually I do not like to chase reverses but this looks simple and elegant - pinbar on a resistance zone. It indicates a possible move down.
I open sell with the first TP apprx 1.66, trailing stop afterwards.
Dynamic support line is located just under the candles. It indicates probable up motion with good R/R ratio. I am already couple hours long with +24 points right now. I expect price will go toward the last maximum (apprx 81.88) and after that towards 82.500
Previous day formed a pin-bar like candle on a MA line. I expect price to go up. Will enter long now with partial lot-size/ SL below daily candle, TP1 at least 57.50. If price goes down today I will open another long at 53.50 for better R/R ratio.
My moving trend indicator shows possible move down.
It either goes directly down or after initial pullback towards identified resistance level. In the later case I will enter with a bigger lot size after pullback as R/R ratio is extremely favorable at this area.
After some consolidation period the currency pair failed to go down and formed two bullish candles with longer tails. The candles are on MA line which serves as a dynamic support. I expect the trend up will be continued.
If market opens with a big gap I will not enter the trade.
This is my first idea here, If ...