Forex FOREX PRO WEEKLY, March 16 - 20 , 2020
- Thread starter Sive Morten
- Start date
-
- Tags
- silly tag
Exceeding the channel to upside suggests more up but I exepct leg down..
Mostly 4 fun but might be truth:
Kareem Abdul-Jabbar says President Trump's coronavirus actions remind him of "Nazi" behavior in the Netflix series.
Kareem Abdul-Jabbar says President Trump's coronavirus actions remind him of "Nazi" behavior in the Netflix series.
I know this looks insane but PA makes low or double bottom..
Sive Morten
Special Consultant to the FPA
- Messages
- 18,664
Well, I'm not dare to express absolute view in current situation. But technically, my friend, - it seems so. With grabber that Tom mentioned and March bearish reversal action on monthly chart, next logical point is 1.03... Cable comes a bit faster... So, it could be two parities... At least I'm not exclude this scenario.
Sive Morten
Special Consultant to the FPA
- Messages
- 18,664
Morning guys,
Today's Friday, so it would be better to focus on short-term setups. As on EUR as on GBP we see some technical bounce, which hardly last too long. But, taking in consideration volatility, overall swings could be significant. On GBP setup looks better.
Market almost has hit weekly 1.27 butterfly target around 1.1335 area (low was around 1.1360), but also it has hit 1.27 daily extension. Collapse was outstanding and this is good background for B&B "Sell". Supposedly, cable could re-test 1.20-1.21 area of previous lows, where B&B could start:
Also, on 4H chart upside action takes the shape of DRPO "Buy". This pattern, in turn, suggests 1.23 retracement, but, I would better focus on closer standing daily 1.21 resistance, taking in consideration the scale of collapse.
This is good setups for single day trading - to not keep positions through weekend and close them fast.
Today's Friday, so it would be better to focus on short-term setups. As on EUR as on GBP we see some technical bounce, which hardly last too long. But, taking in consideration volatility, overall swings could be significant. On GBP setup looks better.
Market almost has hit weekly 1.27 butterfly target around 1.1335 area (low was around 1.1360), but also it has hit 1.27 daily extension. Collapse was outstanding and this is good background for B&B "Sell". Supposedly, cable could re-test 1.20-1.21 area of previous lows, where B&B could start:
Also, on 4H chart upside action takes the shape of DRPO "Buy". This pattern, in turn, suggests 1.23 retracement, but, I would better focus on closer standing daily 1.21 resistance, taking in consideration the scale of collapse.
This is good setups for single day trading - to not keep positions through weekend and close them fast.
Similar threads
