Day Trading US$, Update from last post about H&S trade.

Day Trading US$ Monthly Chart, update on H&S trade

On this chart I point few key information.

1st: Buyer close above “Dark Red” trend line.

2nd: we have a strong Signal “Long” on 2 last candlestick. Is called “engulfing Bullish“.

3rd:We go back to my both short targets ,81.5 and 81.10 price. and 50% Fibonacci before jump UP,

Day Trading US& Weekly Chart, Update on H&S Trade

On last chart, I said critic this short this H&S for different reason. And said that we should see how Price will react at 200MA/50MA.  In 60 mintes about, Sellers drop US$ price to 50MA and buyers in bring it back whit no problem and keep it at they level. And they finish by finally control price above “Red trend Line“.

On thing to notice, we did not close above 83.175 price. But I don’t think it’s a big deal for buyers. Last thing, Do not forget we still have one more resistance to pass on Monthly chart ( 200MA). Because of this resistance, I won’t take this kind of risk.

I’m Bullish on US$, no call/target yet, I don’t like when we have a 200MA resistance. Until Buyers pass this price and use it as a resistance, I stay away from trading US$.

PS: Last week we have a great example why day trading US$ is not for all. In less than 2hours we can have jump from one prices to another. Is why I always recommend to trade CASH , only when you know how use your Stop and Targets. For me, learn how use your stop are the Key of Success in your Trades.