been messing around with Fib Arcs today…interesting.
with retracement fibs added…there was strong resistance at the 50% retrace - evening star on the 12th Nov shows. can pa break and hold above 38.2 fib? any opinions?
If pa settles where it is now when the daily bar closes that would be a bullish piercing candle pattern (someone please correct me if wrong) so this pair could be looking to trade higher. 14 period stochastic oversold also.
no longer bullish for immediate future as daily pa closed with a bear engulfing candle. long closed. will look to next support areas for potential longs. anyway taken short scalp with this in mind.
Took some profits at first support then moved stop to BE. Will take the rest off at next support 9701 or touch o rising TL, whichever comes first.
All out, nice trade.
watchin .961 - .964 support area. any bounces with bullish candle setup takes me long and any break out to the downside will take me short.
Interesting pair, from my charts it seems to consolidate for a week (where I think we are right now) then trends for a week.
Went short on daily close. Support broke and bearish engulfing candle.
Taken some profit and moved stop to BE as I’m winding down now. good luck all !!
drill down to the 4hr and price really did bounce didnt it. has also broken down tl and there is bullish divergence. have taken long position with first tp the recent suppot turned resistence (on the 4hr) as marked on my chart. stop below recent swing low.
I have a fairly healthy short position going. Up over 200 pips at the moment. Today’s candle did flip price direction a bit but I’m still going to hold out to see if price keeps going up tomorrow. If so I will probably throw up a SL to nab some decent profit.
Morning MG, hope u had a good christmas. Don’t get me wrong, trend is deff down and I think ur right in holding. one of my weaknesses is not hanging in long enough! Long scalp doing well but I am treading v cautiously and won’t hesitate to reinitiate short should this thing stall. Wishing u a great new year mate!
First tp hit, stop to BE
Good place to take any other short term long profits. Pa kissing 100 & 200 dma’s on the daily which is also at a res level. Stochastic also OB. Waiting for supporting candles before any new shorts.
so audchf has me interested again!! looking at potential short as pa at daily supply again - couldnt get above last couple of goes. watchin 4hr like a hawk for convincing drop then pullback for a cheeky short!! will post when or if i take it.
