ASSUMING THIS TRADE PLAYS OUT I WILL BE LOOKING TO HIT TP1 THEN WILL BEGIN TO WATCH PRICE ACTION TO SEE IF IT CONTINUES AND CLOSE ALL TRADES AROUND THE WEEKLY TREND LINE. SEE MY 15M ANALYSIS FOR ENTRY.
SL @ 0.90599
ENTRY @ 0.90127
TP1 @ 0.89186
TP2 OPEN
TOP DOWN ANALYSIS 15M TIME FRAME FIBGOLD ZONE SHORT PUSHED BEYOUND THE 0.382 ZONE AND RETRACED. CURRENTLY SITTING ON THE 0.618 AND PRICE IS BELOW THE 200 EMA. PERFECT ENTRY FOR THIS SHORT TRADE. WILL SHARE MY 4H ANALYSIS ALSO.
TRADE AT YOUR OWN RISK, WITH GOOD RISK REWARD.
Following a previous analysis on the DAILY timeframe we have re-tested the resistance area (2H) just under the trend line. Moved to the 15M timeframe to look for entries, Price is currently rejecting the 0.618 Fib Retracement/ EMA area hasn't touched the 0.618 GOLD zone but is respecting the 20EMA. Looking for SHORT trades on MONDAY.
My stops will be around the...
Daily timeframe. Overall downward trend, looking to test trend line and break through current resistance. Retest and start pushing down. Look for entries on a smaller timeframe.
Just my idea, trade at your own risk. I am very new...
Price has created a new Support/Resistance. Expecting a retest of this area then a LONG trade. I am a new trader and feedback is always welcome!!
Trade at your own risk.
