clear and simple trade setup, eur/usd has returned to a key institutional buying region in which price has been trading within this range for a few weeks, am expecting for some momentum to be picked up around this region. confluences acting within our directional bias, intraday 61.8% fib as well 1.08000 zone
1:2 risk/reward trade
clear an transparent trade, we can see usd/cad creating momentum, we could tap around the trendline as our third drive respecting the 61.8% highlighted region as 4HR candle. Momentum could lift prices to 1.4200 levels
the onset of the financial crisis we are heading in could tempt stocks to breach new lows, on a technical standpoint, the price hasn't yet reached the key level and has accumulated more selling power over time. A lot of supporting confluence around the region in which I pointed out price could be heading towards.
-great risk/reward ratio of 1:5
price is extremely volatile and therefore rapid price action may occur before I can post the trade, however, the price has rejected the trendline+ key fib level... therefore price could extend the 2.0400 to create a lower high and a right shoulder.
-great 1:2 risk/reward ratio
price gained momentum into the third highs of a rejection of a key trendline, with candlestick spiking and attempting to accumulate more sellers around that high of 2.0370-2.0420. We have daily projections of targets where price could reach 2.0200 and lower, giving current market situations, markets are very volatile. therefore an SL of around 2.0430 is durable,...
price has rebounded the third touch around the trendline, we could expect further downside pressure towards 1.4300. Risk/reward of 1:2
-price retraced to retest trendline and is now creating lower highs and lower swings to the downside.
Quite simply put, price is still heavily bearish, and technically we have just seen an intraday break and retest on this trade around the 0.6741 which shorts were triggered. Am expecting further lows towards 0.5600 regions to be tapped.
- great risk/reward trade of 1:1.5
price has retraced to a key region with supporting confluence from trendline and fib regions if price can respect this area with candlestick behaviour displaying slowed momentum, buying opportunities could be more predominant to a shift into new highs like 110.00 which correlates to -27% fib level.
Although US fundamental activity has been progressively bullish, the pandemic outbreak of the coronavirus has had an effect on economies conditions, which can also deter attention from further progress talks between US and China. On a technical standpoint, confluences are pointing towards a more extensive push on gold prices to $1581 before a potential...