WEEKLY OUTLOOK: High probability set-up for the upcoming week
WARNING ---> HIGH PROBABILITY SET-UP ! ! !
HOW TO TRADE IT?
The opportunity here is to SHORT the top with a small Stop Loss & a big Take Profit --> 1:5 Risk To Reward Ratio.
So wait until the market reaches the resistance at 0.6230 again and put a short order OR
put a pending order (SELL LIMIT) at the price you want which it is better to be around 0.6325 - 0.6335.
WHY SELL FROM THERE ?
--> The market after the breakup of the descending wedge it went higher with a strong/sharp move,
until the next critical area, where sellers reject bull 3 times at this price.
--> Price action is quite clear at the Daily chart, as you can see the market went to the area & drop immediately
from this price & then it tried again but it fails again (Wings at price : (0.6325 - 0.6335).
--> Buyers lost their momentum at this area so we will see a drop OR at least a big correction, which also can get you
a lot of pips, but in a longer period of time.
--> After the last drop on 4H chart (Bearish candlestick) is obvious who took the control.
HOW TO MANAGE THE TRADE?
You need to organize a trade plan in order to manage correctly the trade.
In my opinion especially if you are a novice trader follow my strategy, which you take parochial profits in every
price that you think the market is likely to reverse.
For example 0.6225 you should definitely take parochial profits.
---> For any questions just comment here or send me a private message.
It will be my pleasurer to help you out ;)
HAVE A NICE WEEK & HAPPY PROFITS ! ! !
HOW TO TRADE IT?
The opportunity here is to SHORT the top with a small Stop Loss & a big Take Profit --> 1:5 Risk To Reward Ratio.
So wait until the market reaches the resistance at 0.6230 again and put a short order OR
put a pending order (SELL LIMIT) at the price you want which it is better to be around 0.6325 - 0.6335.
WHY SELL FROM THERE ?
--> The market after the breakup of the descending wedge it went higher with a strong/sharp move,
until the next critical area, where sellers reject bull 3 times at this price.
--> Price action is quite clear at the Daily chart, as you can see the market went to the area & drop immediately
from this price & then it tried again but it fails again (Wings at price : (0.6325 - 0.6335).
--> Buyers lost their momentum at this area so we will see a drop OR at least a big correction, which also can get you
a lot of pips, but in a longer period of time.
--> After the last drop on 4H chart (Bearish candlestick) is obvious who took the control.
HOW TO MANAGE THE TRADE?
You need to organize a trade plan in order to manage correctly the trade.
In my opinion especially if you are a novice trader follow my strategy, which you take parochial profits in every
price that you think the market is likely to reverse.
For example 0.6225 you should definitely take parochial profits.
---> For any questions just comment here or send me a private message.
It will be my pleasurer to help you out ;)
HAVE A NICE WEEK & HAPPY PROFITS ! ! !