EUR/USD
We have a triangle on 4H that could break down or up. We have a really stong resistance area around a 1.3220 with the weekly high and previous weekly high. There is also a fibo retracement near that area.
On weekly chart , there's also a strong RSI resistance near the current price lvl.
Meanwhile for the first time since november, NET SHORT are decreasing after reaching a all time low of -171 347. It means that we might have reached our bottom and that market sentiment is slowly reversing.
It's too risky to trade inside the triangle, that's why i'm gonna leave a delayed order outside the triangle.
Entry: 1.3240
SL: 1.32
TP: 1.3440
RR: 5
Position size: 0.02
UPDATE: There is a false break of the triangle. It's very likely to break up now. I can enter at a better price!
Entry: 1.3116
SL: 1.3060
TP:1.3440
Size : 0.01
USD/CHF
Exact same pattern on USD/CHF with a more bearish outlook on weekly and daily chart.
Weekly
H4
Entry: 0.9090
SL: 0.9140
TP: 0.9000
RR: 2
Position size: 0.01
These two pairs are very correlated that's why i'm reducing my position size to have a total of 2% risk on these 2 trades.
UPDATE: There is a false break of the triangle. It's very likely to break up down. I can enter at a better price!
Entry:0.9196
SL: 0.9230
TP: 0.9120
Size: 0.02
This trade looks safer with the monthly low at 0.9115. If it breaks i can still enter at 0.9090 like i planned.
GBP/JPY
This pair is again reaching a major trendline. I can set up a nice short hoping it will bounce back and a stop just outside the trendline. If my stop is reached i will just reverse my position. We can see a hidden divergence on the daily which means there's a high probability it will just bounce back.
Entry: 121.20
SL: 121.50
TP: 119.57
RR: 5
Size: 0.03
Stop and reverse:
Entry: 121.50
TP: 122.50
SL: 121.00
RR: 2
Size: 0.02
Leave A Comment
Please sign in to comment.