What are we expecting from this pairing this week...
We can see price was respecting a lovely trend line for around 6 weeks, price recently made a bullish run and broke out of this trend line, what we are expecting to happen is price coming back down to respect this trend line and then pushing higher to reach our resistance zone ( green box )
You can also see that where price should come down and test this trend line is a lovely support and resistance level that has been used many times before, this makes it a strong setup.
You just have to watch for any market gaps tonight at market open as Mr Trump has been up to his old tricks manipulating the market at the weekend by sending out tweets as soon as the market closes... its almost as if he knows what he is doing and isn't as stupid as he looks after all ;p
So tonight just sit back and see where the market opens and then take action tomorrow if this setup plays out.
We can see price was respecting a lovely trend line for around 6 weeks, price recently made a bullish run and broke out of this trend line, what we are expecting to happen is price coming back down to respect this trend line and then pushing higher to reach our resistance zone ( green box )
You can also see that where price should come down and test this trend line is a lovely support and resistance level that has been used many times before, this makes it a strong setup.
You just have to watch for any market gaps tonight at market open as Mr Trump has been up to his old tricks manipulating the market at the weekend by sending out tweets as soon as the market closes... its almost as if he knows what he is doing and isn't as stupid as he looks after all ;p
So tonight just sit back and see where the market opens and then take action tomorrow if this setup plays out.