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Look For Sell Opportunity
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Market speculators may be setting up for a nice sell setup and sell-off run today as we view a head and shoulder pattern clearly playing out inside an ascending channel and a nice clean retest of the neckline.To get more news about WikiFX, you can visit wikifx official website.
Current price action and structure is below the 50 moving average with the band holding of now twice, and acting as nice technical confluence for bearish trade setup confirmation especially for near on point entry and risk management on risk:reward scenarios during and at closing of todays Asian trading session and at the start of London trading session.
Previous demand zone levels block between price handle level 104.385 and price handle 104.0 may be on sights for sellers profit target zone and in the interim, price handle level of 104.8 may portend to be short target bet.
Of course, ones discretion and risk management is advised.
Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.
Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa.