This week i'll try to focus on EURUSD only, so i can explain more detail about my trading strategy.
OK, EURUSD since Tokyo Open actually still in consolidation phase after a big move on Friday (Last Week). Weekly trend is already starting on Up Trend phase, we can see that price currently play above SMA 120 (plum) and SMA 120 already pointing up. Daily trend is on Up Trend phase too, we can check price already play above SMA 24 and SMA 24 is pointing up too.
SMA 24 just move above SMA 120, what is it means? It's means that Daily Average is bigger than Weekly Average. So, we can assume that Trending Up phase will be starting this week.... This assumtion will fail if price then move and play below SMA 24 and SMA 120.
OK, what is happened now ? I have already told you that price is in consolidation phase.. so, we can predict that a retrace will be happened... So as you can see I have already open two SELL positions...1.2904, 1.2885 and 1.2868 will be my target.
We'll see then
Posts
