Pattern wise: I am looking at this inverse Head and shoulder
- Bear in mind the channel down - we really need to break out of that to have dollar strength - If we go above 94.30 and closing above channel down area - Bulls are back in control and my targets for dollar would be between 95-96 area .
Lets dig in deeper - If we get dollar strength - EUR 1.15/1.13 area, other majors would pull back as well, Equities will decrease and precious metals will decline further...That would be delightful for building a longer term position again to get in long. However, vice versa if we get the opposite - key levels noted on chart!
KEY TIPS:
- Keep in mind END OF MONTH FLOWS
- Stick to your trade plan
- would be bullish flag forming within
- Try and trade without a bias
- Leave your emotions out of it
- Add a stop where you think appropriate
Remember: Just a trade idea, not a recommendation.
All the best,
Trade Journal
- Bear in mind the channel down - we really need to break out of that to have dollar strength - If we go above 94.30 and closing above channel down area - Bulls are back in control and my targets for dollar would be between 95-96 area .
Lets dig in deeper - If we get dollar strength - EUR 1.15/1.13 area, other majors would pull back as well, Equities will decrease and precious metals will decline further...That would be delightful for building a longer term position again to get in long. However, vice versa if we get the opposite - key levels noted on chart!
KEY TIPS:
- Keep in mind END OF MONTH FLOWS
- Stick to your trade plan
- would be bullish flag forming within
- Try and trade without a bias
- Leave your emotions out of it
- Add a stop where you think appropriate
Remember: Just a trade idea, not a recommendation.
All the best,
Trade Journal
Nota
Range bound - Until broken either direction.Nota
Depending on fundamentals: Stimulus heavily.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.