Most new traders will enter market immediately for the 'kick', but not aware of the price locality.
EUR/USD
From Daily chart we can see the candlesticks formed with small body but long tail for the past 3 days.
EUR/USD has just formed a marginal top yesterday at 1.4940 region.
Today I prefer to pick short and aim for the reversal profit at 1.4750 support and next support 1.4650.
Short 1.4870 - 1.4890
SL 1.4920 - 1.4940 marginal top
TG 1.4750
GBP/USD
GBP/USD has corrected 50% from the series of bullish candle since mid April.
General trend is up.
Aggressive long trade can enter near current low of 1.6450 and aim for 1.6600 profit target.
But be very cautious if current low is broken then GBP/USD might extend another 2 days of the correction towards next support 1.6350 and major support 1.6150.
Long 1.6460 - 1.6480
SL 35 pips
TG 116 pips or near 1.6600
Ayumi, are you giving advices or do you trade the above currencies as described where to long or short?
ReplyDeleteHi Ai Shiang Shui,
ReplyDeleteThis is a journal and this means the level I'm planning to long or short. :)
I don't do recommendation bcz everyone hv different Risk reward appetite and different trading time frame :)
Short EUR/USD active. Moved SL to entry.
ReplyDeleteLong GBP/GBP expired.
Ah! Understood :o)
ReplyDelete