I am looking at a possible sell opportunity in the short-term as the pair is currently trading at the take profit zone at WR2 (H4 chart) strong resistance zone. However, with this pair I am bias to be bullish as it is an uptrend meaning I will be monitoring the direction should the pair cross the MA 55 and 21 which can give an opportunity to short (TP WPP @ 1.5437 also MA 200 is in the same area of support). It must me noted that on smaller timeframes on the M5 chart the MA 55 & 21 have crossed the MA 5 & 8, therefore, waiting for a second chance to enter the trade. However, go bullish should the price bounce off the MA 21 as this pair is bullish as H4 chart reflects an uptrend, while D1 chart reflect the beginning of an uptrend as MA 55 & 21 want to cross and MA 5 & 8 have crossed possibly chasing MA 200.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.