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".
Alright guys so this past week I noticed a lot of volatility in this pair. Looked at my financial calendar and there wasn't much to move it the way it did. So as far as that goes, I am completely clueless of why there was so much up and down going on. Either way, lets see whats up with this pair and how we can profit this week.
Daily:
Alright so clearly we have a bullish trend here. There is some clear support and resistance at 1.08509, but that isnt our problem now. Instead this week we seem to have hit some resistance at the 1.12794 levels, which seems to be from September of last year. So we want to see if it will test, break or reject.
4hr:
On the 4hr we can see more clearly the price touching the trendline. Support area showing up around the 1.11066 that was touched on May 30th. We also have a clear support line at 1.11610 levels that were rejected until the end of the week.
1hr:
Ok so here is where we can clearly see some high volatility that happened this past week, specifically on Wednesday and Thursday. But there seems to be a small downtrend forming here. That went close to that 1.11610 level from before.
Analysis:
Option 1 -
Ok so we ended the week on a bit of a downtrend. So one of the things the price could do is break that 1.11610 level and hit the previous support at 1.11066, come back and retest the trendline and reject it.
Option 2 -
If the price continues the current bullish sentiment, we will see it make an ascending triangle until it breaks that resistance level at the 1.12794 levels. I like this option better, therefore my strategy will be Long this week on this pair. There are no important news coming so lets hope there wont be as much volatility out there this week.
Alright guys so this past week I noticed a lot of volatility in this pair. Looked at my financial calendar and there wasn't much to move it the way it did. So as far as that goes, I am completely clueless of why there was so much up and down going on. Either way, lets see whats up with this pair and how we can profit this week.
Daily:
4hr:
1hr:
Analysis:
Option 1 -
Option 2 -
交易進行:
Ok everyone so, the price has not moved the way I planed. Although it is bullish at the moment, I opened up a small short today seeing the price bounce off the 10MA on the 4hr chart.
交易結束：達到停損點:
Because this is a log book I will document my losses too. So today I was stopped out on this trade. I had the right analysis as you can see, but the wrong execution. Did not have confidence in my analysis.
