Good evening traders from the UK. Now lets start from the weekly closure last week. We have a bearish engulfing candle weekly closure which engulfs a goof 3/4 weeks of price action. This reacts well off my weekly trend line which we saw have a false breakout to the upside with a weekly spinning top candle which would of wiped out rookie trading accounts. Now that we have bears in full momentum in the market, can we see some key levels being tested.
On the Daily timeframe fast approaching I have a weekly key level and also a counter trend line in which would be a fourth touch. we were making continuous swing highs off the white daily counter trend lone but as you can see a Higher High was created on the 1st Feb in which we had tweezer tops forming a double top. (Read last weeks article on NZDUSD on the tweezer top bear entry.) These are all key opportunities for the sellers. now If we have some momentum with a break retest continuation of the weekly and 4 trend line interaction I have my eyes set on 0.6600 a daily key level within the downtrend pair
Once again follow me on Instagram to see the results of this Pair. Happy Trading
On the Daily timeframe fast approaching I have a weekly key level and also a counter trend line in which would be a fourth touch. we were making continuous swing highs off the white daily counter trend lone but as you can see a Higher High was created on the 1st Feb in which we had tweezer tops forming a double top. (Read last weeks article on NZDUSD on the tweezer top bear entry.) These are all key opportunities for the sellers. now If we have some momentum with a break retest continuation of the weekly and 4 trend line interaction I have my eyes set on 0.6600 a daily key level within the downtrend pair
Once again follow me on Instagram to see the results of this Pair. Happy Trading