Analysis for swing trade:
See my previous post on bullish swing strategy for this pair
.
An end-of-week close above current shadow resistance we will have a successful swing breakout. Swing bulls should then push to next shadow between 1.3519 and 1.3565. Current zone could offer entry.
Analysis for day trade:
Continue long with current week white candle. We are now seeing an alignment between swing and day traders rather than opposite. When interests align there may be possibility for quicker move.
Notes: Technical Analysis states that previous turning points offer future potential support resistance zones.
1. Attach a horizontal line at each turning point in the past 12 months on weekly chart.
2. These lines leave a shadow.
3. Shadows are not evenly dispersed but tend to be clustered.
4. When multiple shadows confluence in a tight range, there is a dark shadow which will provide strong support resistance.
5. Look for dark shadow to offer next turning point.
6. Price will move quickly through empty spaces or bright areas.
See my previous post on bullish swing strategy for this pair
An end-of-week close above current shadow resistance we will have a successful swing breakout. Swing bulls should then push to next shadow between 1.3519 and 1.3565. Current zone could offer entry.
Analysis for day trade:
Continue long with current week white candle. We are now seeing an alignment between swing and day traders rather than opposite. When interests align there may be possibility for quicker move.
Notes: Technical Analysis states that previous turning points offer future potential support resistance zones.
1. Attach a horizontal line at each turning point in the past 12 months on weekly chart.
2. These lines leave a shadow.
3. Shadows are not evenly dispersed but tend to be clustered.
4. When multiple shadows confluence in a tight range, there is a dark shadow which will provide strong support resistance.
5. Look for dark shadow to offer next turning point.
6. Price will move quickly through empty spaces or bright areas.
