In the daily chart, the market is in the down-trend. It created a new high point recently, it is near the resistance level 1.11800. Now the market is going down, it will test the support level 1.06910 soon.
In the four hour chart, the market has a bearish channel, notice that the high points and the low points are matching the channel top and bottom perfectly. The market has a support level 1.06630 which is created by a double bottom pattern, the market will test it soon.
The market has a simple downtrend in one hour chart.
In the four hour chart, a bullish bat pattern is almost complete, it provides a potential reversal level from 1.07410 to 1.06850. Because in the larger timeframes, the market is in a downtrend, so this buying signal is a counter-trend trade. I am waiting for the market gives me a confirmation signal in the potential reversal level, then I will decide should I long the market.
Buy Limit: 1.06850
SL: 1.05800 (-105pips)
TP1: 1.08640 (+179pips)
TP2: 1.09700 (+285pips)
The market has a big downtrend which is started at the beginning of March. After the downtrend, the market has an uptrend, but it doesn’t break above the resistance level 1.25000. Last Friday, we have an around 200pips length bearish candle in the daily chart.
Last week, the market stayed in the sideways trend (blue box), now it breaks below the sideways trend.
A bearish bat pattern is almost complete in four hour chart, it provides a potential reversal level from 1.24900 to 1.24320. The sideways trend was near this area, but because of the risk-reward ratio, I would like to see the market breaks above the top of potential reversal level 1.24900 and stay under the bat pattern’s X point 1.26000, then I will try to short the market.
Sell limit: 1.25000
SL: 1.27040 (-204pips)
TP1: 1.20380 (+462pips)
TP2: 1.17960 (+704pips)
In the daily chart, the highest high point is around 112.000. Recently the market created a new high point and show up two Doji candlesticks, the price is around 111.200, because it does not breaks above 112.000, so the highest resistance level is still valid.
In the four hour chart, the market breaks the bullish channel, it comes down and shows up a new sideways trend, the resistance level 108.550 is important, if the price breaks above it, the market may change to the uptrend.
A bearish crab setup from within the consolidation area of the potential bearish flag setup on both the 1-hourly timeframe and 4-hourly timeframe. Trade has already engaged.
Short NOW: 108.640
SL: 109.240 (-60pips)
TP1: 107.940 (+70pips)
TP2: 104.200 (+444pips)
In the daily chart, the market is in a bearish trend, but in the last two weeks, a correction sent prices up to a new resistance level 0.62000. Now the market is leaving the resistance level and may continue the bearish trend.
In the four hour chart, the chart structure shows us three important support levels (blue boxes). The market needs to breaks below those levels to continue the bearish trend.
I am looking for a counter-trend trade in this market. A bearish bat pattern is spotted in the one hour chart, it provides a potential reversal level from 0.59090 to 0.58900. If the market gives me confirmational signals which are near the potential reversal level, I will decide should I long the market.
Buy Limit: 0.58900
SL: 0.58200 (-70pips)
TP1: 0.60250 (+135pips)
TP2: 0.60960 (+206pips)
The recent high point was broken above resistance level 0.98200, and the newest low point was higher than the previous one. So the market may change to the uptrend if it breaks the newest high point 0.99000 later, If not, the market test the 0.99000 as a new resistance level and turn to bearish trend, then the market is in the sideways trend.
In the four hour chart, the market is going up with the bullish trendline, it will test the resistance level 0.98200 soon.
A bearish bat pattern is spotted in one hour chart, it provides a potential reversal level from 0.98610 to 0.98200. If the market gives me any signals mean that the resistance level 0.98200 is valid, then I will decide to short the market.
Sell limit: 0.98610
SL: 0.99500 (-89pips)
TP1: 0.97000 (+161pips)
TP2: 0.96240 (+237pips)
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