There’re a couple of trade-ideas within this chart.
1. If the market retraces back to the resistance(red) line, it will provide a shorting opportunity on an aggressive setup, with the best Reward: Risk within this trade.
2. If the market finds support at 1.3934, in addition, a magic candle appears, I may engage a countertrend trade as an ABCD Pattern setup.
3. A trading opportunity can also develop within the consolidation area as a bat pattern setup.
Personally I prefer setup(1) and (3) let see what does the market give us.
Well, I’m Rayn, and in the past, I used to work the 9-5 just like you. My head of department instructed me to slow down my pace if there wasn’t any other work for me to do. Just so the entire department wouldn’t look bad.
On Wednesday, 2:08 pm–3:30 pm (+8 GMT) I go through 12 currency pairs in identifying all potential setup for the week. Like our Facebook page to be notified when we go live.
Share our post so more traders can benefit from our analysis and comment one thing you liked about the analysis.
Your support is always much appreciated.