irshaad

irshaad

The Dollar Index on the daily chart has been up trending for a while now so this is a possible trend continuation trade , the last candlestick that was formed was a hammer so we could see a possible reversal to the upside , what makes it even better is that it has pulled back into a previous structure higher high creating a new lower high , to the upside it is.

irshaad

ON THE 60 MINUTE CHART THE PAIR HAS FORMED A DESCENDING CHANNEL THAT ALLOWS US TO ENTER FOR A QUICK SHORT BEFORE THE PAIR HEADS BACK TO THE TOP AS IT IS ALREADY IN AN UPTREND ON THE 60 MINUTE . IT HAS TOUCHED THE RESISTANCE OF THE TREND LINE AND ALSO WE HAVE EXTRA CONFIRMATION FROM THE CANDLESTICK PATTERN FORMED AT THE RESISTANCE WHICH IS TWEEZER TOPS . ONCE THE...

irshaad

ON THE 60 MINUTE CHART WE HAVE A DESCENDING CHANNEL THAT HAS TESTED THE RESISTANCE OF THE TREND LINE AND A POSSIBLE REVERSAL IS EXPECTED CAUSE WE HAVE EXTRA CONFIRMATION FROM THE CANDLESTICK PATTERN WHICH IS TWEEZER TOPS TAKE PROFIT IS PLACED A LITTLE BELOW THE HIGH TEST CANDLESTICK FORMED A FEW DAYS BEFORE ALLOWS FOR A GOOD RISK TO REWARD