Short Position in Weekly Bearish Condition
Zaktualizowano
Been watching very closely and the market is still in a major down trend at the moment.
Don't see any upside reversal till around 1.8500 levels based on weekly charts.
The only option at the moment is to position for short set ups depending on the cycle patterns.
Currently in Bearish Impusle wave 2 going to 3, used Fibonacci extension once key points were formed, TP around 1.9200 area. Set Trail Stop at 70 pips from ATR (Average True Range 4hrs).
Other than that, don't expect any upside direction, only for correction patterns, but overall charts are Bearish in nature.
Happy Hunting.
Don't see any upside reversal till around 1.8500 levels based on weekly charts.
The only option at the moment is to position for short set ups depending on the cycle patterns.
Currently in Bearish Impusle wave 2 going to 3, used Fibonacci extension once key points were formed, TP around 1.9200 area. Set Trail Stop at 70 pips from ATR (Average True Range 4hrs).
Other than that, don't expect any upside direction, only for correction patterns, but overall charts are Bearish in nature.
Happy Hunting.
Uwaga
That slight uptrend is not a reversal to the upside, but part of a Zig Zag Pattern seen better on 30min, don't let these small movements get you to go long, it's a psychology market that banks play, this is just part of the game, still bearish in natureTransakcja zamknięta: osiągnięto wyznaczony cel
Target met, take profits while you can, reversal cycle will be in play soon. Happy Hunting.
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