GBP:- Overall Trend heading down....Weekly trend defined by the 5-day 50% level
Daily support as shown above....
If trading partial exits around 43 pips and 90 pips from swing points and hold last on Daily trends either way... (same applies on 'shorting')
Because I'm based in Sydney I try and get set only in our day session, I don't do US hours that often, but the levels are there for everyone, as described in the number of different ways trader's trade.
EUR:- Expectation 2-day stall in an UP trending market.
Trading above all higher timeframe 50% level, except the 5-day. And now a close below the 3-day lows...
Daily drops in the forward timeframe favouring another daily 'push down' stalling day.
A 2nd day 'stall' and push down into 'Support'. (risk the 5-day 50% level)
No high probability trades on Tuesday.
Note:- 5-day 50% level must be used as Risk, because a close below the 3-day lows can often swing the market upwards towards the 3-day highs....
Downwards would be the Tuesday lows and Weekly 50% level.....
Posts
