Market speculators may be setting up for a nice sell setup and
sell-off run today as we view a head and shoulder pattern clearly
playing out inside an ascending channel and a nice clean retest of the
neckline.To get more news about WikiFX, you can visit wikifx official website.
Current price action and structure is below the 50 moving average
with the band holding of now twice, and acting as nice technical
confluence for bearish trade setup confirmation especially for near on
point entry and risk management on risk:reward scenarios during and at
closing of todays Asian trading session and at the start of London
trading session.
Previous demand zone levels block between price
handle level 104.385 and price handle 104.0 may be on sights for sellers
profit target zone and in the interim, price handle level of 104.8 may
portend to be short target bet.
Of course, ones discretion and risk management is advised.
Jasper Njuguna is a self-taught discretionary financial markets
trader. With cumulative 5 years experience trading the markets and out
of which, one and a half years of that as a prop trader, trading large
and mid-cap American equities at one of the DAY TRADE THE WORLD offices.
Prior to switching career interest to trading, I have 9 years of
experience in senior management roles driving small to large business
development and B2B relations in creating and implementing; learning
& development solutions, programs, organizational strategies &
frameworks, and blended learning approaches for companies and
institutions in Africa.
