All weekly Forex analysis are high-level and sets the week ahead. However markets change due to news and events so this may evolve. I do Monthly, weekly and daily scans every week for context. Higher TF help to guide the lower so as to give an indication or hint as to the direction of the market and potential entry points. I try to focus on price action and use indicators secondarily for probability of reversals or change in market sentiment.
Charts shown do not necessarily mean that I will be entering them, however I will observe for potential opportunities as they’re either a setup being played or about to be played. All thoughts welcome for purpose of self improvement!
20 SMA = RED
50 SMA = ORANGE
200 SMA = YELLOW
Bollinger Bands = PURPLE
MACD (prefer to use in non trending market)
RSI (prefer to use in non trending market)
USDCHF – Sell
- Price approaching daily resistance
- Await bearish candle before considering trade
- Ensure suitable R/R before considering trade
- Target at rising trend line
USDJPY – Sell
- Price at descending resistance
- Bearish candle at resistance
- Target at rising trend line
You must be logged in to post a comment.