Ones To Watch 15th July
Welcome to this weeks Ones To Watch. There are some nice looking set-ups and potential set-ups in the four pairs that I share with you.
First of all though, don't forget to download my 100% FREE ebook which details the strategy that I personally use to analyse, enter and exit trades
First up is;
After the pair broke down from major resistance it hit support, retraced and then came under further bearish momentum which took it back down to its previous low around the 16029 level.
Price has, just today, broken below support with a strong bearish candle, opening up the opportunity to short to the next area of support around 15800 for a 200 pip potential profit.
The Pair Has reached major resistance around the 7600 level and looks like a reversal may be about to take place potentially down to the low of the range around the 7350 area.
A closer look at the 4 hourly reveals a double top but with a yet unbroken neckline. A bearish push below that neckline could open up the door for a short down to the lows.
The pair has been respecting the long term downtrend, retracing to this area for the second time in 2 weeks.
A move down to the 4 hourly shows the possible formation of a double top. If bearish momentum takes over then there could be a possibility to short the pair down to the previous lows - however, any bullish momentum over the coming few days would open up the possibility for the pair to continue a bullish trend.
Another pair following a descending trend on the daily chart. It looked like price had broken above it but it has now dipped back below it.
The 4 hourly shows price stalling at a minor support level at the moment but a bearish break below this level opens up the potential to short down to 9700.
Thanks for watching guys. Don't forget to hit the like button to let me know what you think and comment with any questions you might have - I will be more than happy to help!
Until next time...