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We have just finished an ICI to the upside on the monthly and we can expect a correction before we can see a continuation to the upside, so we can expect a short term bearish price action. On the weekly time frame we can see that we have a W pattern with an over extended impulse. On the Daily time frame we can see that there is an impulse and correction and we can expect another impulse to the downside to continue the bearish movement, we are also currently testing previous resistance turns support, which is now resistance and we can expect the market to potentially have this rejection to the downside. Since the environment is bearish with the MACD below the zero and the EMAs are cut for short, and if the market successfully manage to break below the support, after the break the previous resistance will turn resistance again now on the break an retest of the EMAs which is also lining up to the structure, we can be looking for this potentially move to the downside. Stop-loss above the high and take profit is on the daily retracement or the entry of the wick or body of the W formation on the weekly.
Trade Signals
SELL 1 (Based on ICI strategy on Daily)
Entry: 82.90
Take Profit: 79.71
Stop Loss: 83.94
SELL 2
Entry: 82.90
Take Profit: 74.21
Stop Loss: 83.94
BUY (Based on W formation on weekly TF)
Entry: 74.21
Take Profit: 91.80
Stop Loss: 72.47
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
We have just finished an ICI to the upside on the monthly and we can expect a correction before we can see a continuation to the upside, so we can expect a short term bearish price action. On the weekly time frame we can see that we have a W pattern with an over extended impulse. On the Daily time frame we can see that there is an impulse and correction and we can expect another impulse to the downside to continue the bearish movement, we are also currently testing previous resistance turns support, which is now resistance and we can expect the market to potentially have this rejection to the downside. Since the environment is bearish with the MACD below the zero and the EMAs are cut for short, and if the market successfully manage to break below the support, after the break the previous resistance will turn resistance again now on the break an retest of the EMAs which is also lining up to the structure, we can be looking for this potentially move to the downside. Stop-loss above the high and take profit is on the daily retracement or the entry of the wick or body of the W formation on the weekly.
Trade Signals
SELL 1 (Based on ICI strategy on Daily)
Entry: 82.90
Take Profit: 79.71
Stop Loss: 83.94
SELL 2
Entry: 82.90
Take Profit: 74.21
Stop Loss: 83.94
BUY (Based on W formation on weekly TF)
Entry: 74.21
Take Profit: 91.80
Stop Loss: 72.47
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
거래청산: 스탑 닿음:
Our SELL 1 has hit our SL
액티브 트레이드:
SELL 2 is currently active and running 15 pips from entry. Currently testing previous resistance support area, where we can expect more bearish momentum.
