How To Make Money Today: Daily Market Analysis and Forex Trading Signals 24 May 2022
To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis and the trading strategy to use today. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…
On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 128.099 where the 38.2% Fibonacci retracement and horizontal overlap resistance is to our 1st support at 126.988 in line with the 78.6% Fibonacci projection. Price may break through the 1st support and head for the 2nd support at 125.981 where the 100% fibonacci projection is. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 128.869 where the horizontal swing high resistance and 61.8% Fibonacci retracement are.
Areas of consideration:
- H4 time frame, 1st resistance at 128.085
- H4 time frame, 1st support at 127.156
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