Technical:
- The Bullish White Swan, forming with the parameters of 50,50,261.8&70,7 respectively.
- The hidden RSI divergence, possibility of trend change. Expecting to come back and retest the 50 level.
- Pivot point could be retested to determine the direction. Hence, correction of the bearish trend is needed for late bears.
- Fibonacci retracement, of 70,7 or 61,8, very essential
- Stop loss 15 pips below 78,6 to avoid spikes
Fundamentals
- It's bank holiday, less market participants. Only greedy retail traders are active.
- On tuesday, 2.30am GMT daylight = Trade balance and at 5.30am the RBA statement and cash rate are announced.
- If the market ranges today, Would expect the news to move it north to pivot point
NB. Make sure you have your stop loss in place. It is also important to have your own plan and money management .
Good luck and Happy trading :)
- The Bullish White Swan, forming with the parameters of 50,50,261.8&70,7 respectively.
- The hidden RSI divergence, possibility of trend change. Expecting to come back and retest the 50 level.
- Pivot point could be retested to determine the direction. Hence, correction of the bearish trend is needed for late bears.
- Fibonacci retracement, of 70,7 or 61,8, very essential
- Stop loss 15 pips below 78,6 to avoid spikes
Fundamentals
- It's bank holiday, less market participants. Only greedy retail traders are active.
- On tuesday, 2.30am GMT daylight = Trade balance and at 5.30am the RBA statement and cash rate are announced.
- If the market ranges today, Would expect the news to move it north to pivot point
NB. Make sure you have your stop loss in place. It is also important to have your own plan and money management .
Good luck and Happy trading :)