my plan for today.
if i get more buyers than sellers in pre, then a short buy to 14200.
@ 14220, buyers might struggle a little bit because of the big banks. then i’ll wait for a pull for more demand and see if I can swing that.
Bitcoin is still trading inside the 5 week rectangular range 30k-41k and likely to continue for few more weeks so that the frustration tactics of algos accomplish / Early investors stop hunts . Like we said few weeks back, there is an inevitable possibility of a heavy second leg sell off / stop hunt / fat finger formations from the big players . Hence , it is better to be patient for few more weeks and definitely retailers will get even cheaper price around 20K or slightly below that level for investing long term.
Trend : Range
Signal : Waiting mode /pending long orders around the price 20k -14k
Target : Long term
Intra day - Scalp inside the 30-41k range with a tight stop loss / stop orders
Welcome to our weekly trade setup ( AUDCAD )!
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1 HOUR
Bearish pullback towards main sr level.
4 HOUR
Closure above support zone .
DAILY
Expecting further upside movement..
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FOREX SETUP
BUY AUDCAD
ENTRY LEVEL @ 0.93200
SL @ 0.92940
TP @ 0.93840
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.85499).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURGBP is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 46.
Take Profits:
TP1= @ 0.86125
TP2= @ 0.86390
TP3= @ 0.86730
TP4= @ 0.87166
TP5= @ 0.87497
SL= Break below S2
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