DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
This week I had no time to take a look at charts or to barely even trade. Yet I will not loose the routine of doing an analysis and checking up on markets. I did have 2 loosing trades this week, one including this pair because as I published last week my analysis felt bullish. But I wasnt all the way wrong. Lets check this out...
Daily:
This week I will not be going into higher timeframes mostly because my charts look exactly the same as last week. Meaning everything played out well. But on this chart we had a down trendline that the price was able to keep this past week. My sentiment was bearish and the price did drop opening the week but it reversed to touch that trendline we drew last week. Which also implied holding that support line around 1.00113. and rejecting it.
4hr:
On our 4hr chart we see price break out of that square between the .99115 and 99578 areas. Touched that trendline and rejected it although not making lower lows, but making lower highs.
Analysis:
I believe the price could stay bearish here, continuing with the trendline drawn from last week. First target could be previous support of 0.98701, second could be 0.97645.
This week I had no time to take a look at charts or to barely even trade. Yet I will not loose the routine of doing an analysis and checking up on markets. I did have 2 loosing trades this week, one including this pair because as I published last week my analysis felt bullish. But I wasnt all the way wrong. Lets check this out...
Daily:
4hr:
Analysis:
I believe the price could stay bearish here, continuing with the trendline drawn from last week. First target could be previous support of 0.98701, second could be 0.97645.
