I am a bull on this pair and looking for opportunities to buy.

The market is flat and price is ranging. I will be using the ranging strategy. Price is in support zone MM2-MS1. The stochastic is heading towards oversold and I'm expecting price to go down as far as 111.500

Market is flat and price is ranging. The stochastic is at oversold. We are currently at support around WM2. Resistance is around 112.500 at WPP.

Market is flat and price is ranging. The stochastic is heading toward oversold. Support is at DM2 (112.000) I'm expecting to enter the trade at 112.5000 MM2 and my target is MM4.

2 thoughts on “Technical analysis 26/02/2016 (swing trade)”

  1. Ryan Gandalf van Jaarsveld says:

    Hi Nonhlanhla

    Your analysis makes sense though I don’t see the new weekly pivot points on your H4 chart? Also with today being the end of the month MM4 is unlikely. Looking at H4 with new weekly pivots I see a bull entry at WM2/ 112 – which marks the bottom of the range as you correctly identified and the target for bulls is WM4/ 114 – which marks the top of the range.

    You might have done this analysis on the weekend – my suggestion is to make sure that if your trade plan is done on the weekend though you only execute on a Monday or Tuesday you would want to make sure you add images with recent price action and new pivot points. You want the latest available info for your analysis.

    Ryan Gandalf van Jaarsveld
    Skype Ryan.Gandalf
    e-mail [email protected]
    Coach MetaTraders.com
    Analyst Forex.Today

    1. Nonhlanhla Ndlovu says:

      I will do as you suggest on my next trade plan.

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