Selling Gbpcad with the following confluences
1. Trend: Downtrend ( price making lower lows and lower highs
2. The Level: Break of minor support which is acting as resistance
3. Fib retracement levels: Price got rejected @ 50 and 61.8% levels
4. The signal: Bearish Engulfing candle @ resistance. Which basically means buyers are overwhelmed by sells in the...
Possible shorts on Eurusd with the following reasons
1. The trend: Downtrend: Price making lower highs and lower lows
2. Level: Break of minor support which would most likely act as resistance
3. Fib levels are in place, waiting for that nice pull back and a bearish reversal candle stick to confirm my sell entries
TREND: Price currently making lower highs and lower lows (downtrend)
LEVEL: We have a break of support which is now acting as resistance
FIB LEVELS: Market rejection from 50% fib level
SIGNAL: Bearish engulfing candle at resistance and fib levels
RISK: 0.5% of my capital
We have a break of structure (resistance) to the upside and a pull back to fib levels with the formation of a bullish pinbar indicating the presence of buyers pushing the market upward. Risk for this @ 0.5% of my capital.
#AUDNZD
Price is seen rallying to the upside. Long opportunities with the following confluences:
1. The trend: which is bullish, price making higher highs and higher lows
2. Break of previous resistance, which would most likely act as support
3. FIB levels in place
4. The Signal: Long entries on Bullish reversal candle stick on my fib levels
#profitableweekahead
AUDNZD can be seen trending upwards. patiently waiting for price to break above recent resistance level creating an higher high and a pull back to fib levels and bullish continuation candles to go long....
Second case scenario: price breaks below minor support creating a Lower low which indicates the end of the uptrend. Entries on retest with fib levels and...
