-4 week horizontal range developing
-50SMA coinciding with upper boundary
-Bollinger band contraction within the confines of pattern on the daily
-50/200 SMA contraction with a posturing towards a bullish cross on H4 (these two moving averages have served as good support/resistance references in the past)
-Measured move up to 0.615
30 basis points of risk
Will look for a favourable R/R trade on the 4 hour into the trading week
-50SMA coinciding with upper boundary
-Bollinger band contraction within the confines of pattern on the daily
-50/200 SMA contraction with a posturing towards a bullish cross on H4 (these two moving averages have served as good support/resistance references in the past)
-Measured move up to 0.615
30 basis points of risk
Will look for a favourable R/R trade on the 4 hour into the trading week