following week anticipation

20 thg 9, 2020

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Area 1.1755-1.1765 are currently being tested as a support for the last 3 weeks

lower high has been forming but low are currently all being held in Area 1.1755-1.1765 and a descending triangle is currently forming on H4 time frame

A bearish trendline has also just been tested but it is still valid for now

H4 bearish engulfing pattern has been formed on Friday closing but it is holding up by H4 20/50/200 moving averages

If analysis is correct, it should be testing 1.1755-1.1765 area in the following week and if the area is broken, we should see a 100-200 pips pull back

possible support will be
1.1711 - support formed in late July and early August
1.1685 - monthly Fibonacci retracement at 23.6 level
1.151 - monthly Fibonacci retracement at 38.2 level

It is possible to pullback all the way to 50 and 61.8 monthly Fibonacci retracement level but it will be revealed in the following weeks/months

3 trades are currently running
Short @1.18563 TP@1.1758 SL@1.1875
Short @1.18617 TP@1.1758 SL@1.1875
Short @1.18652 TP@1.1758 SL@1.1875

All 3 trades are currently in profit and SL should be moving to risk free level after monday market open

PERSONAL PREFERENCE ONLY
DO NOT FOLLOW OR COPY
IF YOU DID FOLLOW PLEASE DO IT UNDER PROPER RISK MANAGEMENT
I DO NOT AND WILL NOT TAKE ANY RESPONSIBILITIES