In the daily chart, the market breaks above the bullish channel, which means the downtrend is stoped. The market may change to sideways trend soon.
In the four hour chart, the market is near the resistance level, which is around 1.10000. The doji candlestick is shown up near the bottom of the resistance level, the market may start a downtrend soon.
The bearish bat pattern is still valid in the four hours chart because the recent high point’s closing price didn’t break above the bat pattern’s X point. I still waiting for a confirmation signal to let me enter the market.
Sell limit: 1.09870
SL: 1.10390 (-52pips)
TP1: 1.08900 (+97pips)
TP2: 1.08300 (+157pips)
Risk/Reward Ratio: 3.02
In the daily chart, the market is testing the resistance level 1.26200 again. If the market break above it successfully, it means the uptrend is starting again.
In the four hours chart, a clear bullish trendline is spotted. The market may follow this trendline to go up.
A bearish bat pattern is completed in one hour chart, now I am waiting for the market back to the potential sell level which is around 1.26000. Then I will try to short this market.
Sell limit: 1.26200
SL: 1.26650 (-45pips)
TP1: 1.24900 (+130pips)
TP2: 1.24000 (+220pips)
Risk/Reward Ratio: 4.89
In the daily chart, the market breaks below the support level 107.110, it means the sideways trend is not valid anymore, the market is changing to downtrend.
In the four hours chart, there is a clear bearish trendline. The market is following this trendline to moving down.
The market just breaks below the bottom of the sideways trend and turning to the downtrend. I prefer to do a follow-trend trade. The red box is an ideal sell zone for us to waiting for selling opportunities. I will use resistance level 107.850 as my selling orders entry price.
Sell limit: 107.850
SL: 108.470 (-62pips)
TP: 104.970 (+288pips)
Risk/Reward Ratio: 4.65
In the daily chart, the market is following the bullish channel to go up.
In the four hours chart, the market is testing the support level 0.63880. If the market does not break below this level, the price has a high chance to go up.
Because the market does not show me enough signals and candlesticks that it will become an uptrend or a sideways trend. In order to have low-risk trading, I prefer to enter the market at the bottom of the sideways trend.
Buy limit: 0.62940
SL: 0.62300 (-64pips)
TP: 0.64890 (+195pips)
Risk/Reward Ratio: 3.05
In the daily chart, the market is in the sideways trend now and it is testing the support level 0.96000. If the market breaks below this level, it means the market turning to the downtrend.
In the four hours chart, the market is following the bearish bat pattern, which I spotted on 23 Apr., to go down. As I said before, the market is testing the support level 0.96000.
I will wait for the market back to resistance level 0.97540, if the market test it and show me this level still valid, I will short it.
Sell limit: 0.97540
SL: 0.98370 (-83pips)
TP: 0.95300 (+224pips)
Risk/Reward Ratio: 2.70
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