BIG PICTURE:
After Looking at GBPUSD and EURUSD i determined that EURGBP would be a good cross to play. Bearish GBP for Brexit uncertainty + monthly Levels. end of year is approaching. Bearish USD due to uncertainty in election. Why would money come into these currencies right now? Vaccines may have more positive impact on equities than currencies.
INTRADAY FUNDAMENTALS:
all time frames are trading above VWAP. RSI is above the Stationary 50. all time frames are trading above 50 EMA as well. there are small indications of potential short term weakening in price through indicator analysis but overall price action and market structure support bullish volume / momentum.
TECHNICAL ANALYSIS:
-.915 has held as a key market level. long to at least .93.
-buy into small pullbacks.
-with strong move capture price action to the 61.8% fib extension level.
-price discovery trading below .915 would be a reason to look at an exit.
-tier 1 risk and scale in above recent highs but if 1st trade idea fails than re enter with tier 1 risk and play accordingly. if this fails price will likely return to .9
HTF/ TA:
mentioned in intraday fundamentals.
RISK MANAGEMENT:
.25% 3 Tier Low Risk + increase size after newfound support on recent highs.
After Looking at GBPUSD and EURUSD i determined that EURGBP would be a good cross to play. Bearish GBP for Brexit uncertainty + monthly Levels. end of year is approaching. Bearish USD due to uncertainty in election. Why would money come into these currencies right now? Vaccines may have more positive impact on equities than currencies.
INTRADAY FUNDAMENTALS:
all time frames are trading above VWAP. RSI is above the Stationary 50. all time frames are trading above 50 EMA as well. there are small indications of potential short term weakening in price through indicator analysis but overall price action and market structure support bullish volume / momentum.
TECHNICAL ANALYSIS:
-.915 has held as a key market level. long to at least .93.
-buy into small pullbacks.
-with strong move capture price action to the 61.8% fib extension level.
-price discovery trading below .915 would be a reason to look at an exit.
-tier 1 risk and scale in above recent highs but if 1st trade idea fails than re enter with tier 1 risk and play accordingly. if this fails price will likely return to .9
HTF/ TA:
mentioned in intraday fundamentals.
RISK MANAGEMENT:
.25% 3 Tier Low Risk + increase size after newfound support on recent highs.
