Week 23, 3-7 June 2019
- Theresa May’s decision to step down had provided more uncertainty around the investors/traders, concerns over the next PM’s stance on Brexit.
- Coming up this week: on 3 June: Manufacturing PMI 53.1 vs 52.5 - on 4 June: Service PMI 50.4 vs 5.60 - USD NFP Week.
- Daily, Hammer candle (engulfing on demand zone).
Week 23, 3-7 June 2019
- EUR currency is facing ahead of this week the main refinancing rate 0.00% vs. 0.00% on Thu 6 June, the day of Monetary Policy Statement.
- USD NFP week.
- Daily price channel with 7 touches (if the double bottom completes its formation then the particle decline will form, touch 8 is a breakout) + Strong (Marubozu)...
Good swing trade opportunity with 3:1 RR
- Price channel breakout (after main 5thouchs)
- 4h reversal candle
- Head & Shoulders on 15min & 1hour chart
- RR : 3:1
- Supporting indicator RSI is down.
- The main event yesterday was FOMC & Fed interest rate announcement (remained @ 2.50).
Patience and discipline is good
- Lockup profit at 111.07ch, take it at...
Simple swing trade in EURNZD
Price channel, breakout.
Double bottom, "on 5th Feb" confirmed reversal.
Flag, continuation pattern.
R:R - 1:2.5
Cautious on MAE50 daily could hold.
Let us see where it lands...
Will it confirm the break of up-trend? the partial incline at (1.3251ch) saying so,
- 1-4h up-trend break @ 1.3188 - to confirm
- Continuation (flag, triangle, retouch..etc) - to confirm
- Supporting indicator - RSI under 50 - to follow
- RR: 1:3 / 1:4
I will wait to complete the set up for high probability trade.
Could hold the trade
Open position on...
I will be watching this trade setup closely for a swing trade (4h chart), though with cautious as this week is fully loaded with news.
For the last two weeks, the FX market is on impulsive move, CAD scheduled for an Interest Rate, trade balance & Employment data... hmmm.
- 2 shooting star bearish candles, showing the push of bear crowd.
- Price on...
Patiently waited for the bull (R.Angle) ascending triangle to complete on 4h chart, with MACD convergence made the trade simple.
Strong bull candles on previous days recommend to break through and move forward,
Loaded up @ 1.7187 with RR=1:5.
Will evaluate the trade during and after.
Simple double H&S trade set up, Watch closely on 1h and 4h chart, RR = 1:7
Short at 1st H&S, loaded some more on 2nd H&S, 130ch support is a potential target.
SL already on breakeven, be careful with wicks Bulls are trying to take over.
Emotions on control.
Happy trading guys
The uptrend breakout on higher time frame could fail, zooming on the lower time frame, a beautiful cup and handle setup, the flag could extend.
If not, set your risk and short.
Be more cautious and happy trading guys