BIG PICTURE:
HTF coulnt break or hold 1.34/1.35 area. Purely a signature trade technical setup
INTRADAY FUNDAMENTALS:
LTF challenging and testing VWAP but not breaking over or under. Clear area of consolidation and price discovery as EMAs and SMA are not giving a clear indication as to trend but clearly trend momentum shift.
TECHNICAL ANALYSIS:
Price rejected 1.34/1.345 range broke below and just came back up to retest and hold 5 different times. This retest is the level I am shorting at around 1.34. first target is 1.32 and then 1.30 for the long term.
Lower low created 1.32 indicated that what I am entered in on right now could be the lower high.
HTF/ TA:
This is much more a beginning to a swing trade. Higher time frames show clear divergence when price came up to test 1.35. price is beginning to break and hold below the 50 SMA. Price broke is currently trading below monthly VWAP which is really what I am trying to see here is a more mid to long term change in momentum, I figured I wouldn’t see too much confirmation on the lower time frames.
RISK MANAGEMENT:
.25% 3 tier risk.
Add tier 2 below 1.33
HTF coulnt break or hold 1.34/1.35 area. Purely a signature trade technical setup
INTRADAY FUNDAMENTALS:
LTF challenging and testing VWAP but not breaking over or under. Clear area of consolidation and price discovery as EMAs and SMA are not giving a clear indication as to trend but clearly trend momentum shift.
TECHNICAL ANALYSIS:
Price rejected 1.34/1.345 range broke below and just came back up to retest and hold 5 different times. This retest is the level I am shorting at around 1.34. first target is 1.32 and then 1.30 for the long term.
Lower low created 1.32 indicated that what I am entered in on right now could be the lower high.
HTF/ TA:
This is much more a beginning to a swing trade. Higher time frames show clear divergence when price came up to test 1.35. price is beginning to break and hold below the 50 SMA. Price broke is currently trading below monthly VWAP which is really what I am trying to see here is a more mid to long term change in momentum, I figured I wouldn’t see too much confirmation on the lower time frames.
RISK MANAGEMENT:
.25% 3 tier risk.
Add tier 2 below 1.33
