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Break Of August Strong Support Level Breached, Good Sell Opportunity
Since start of the trading session month of September, market participants have been toying, testing the low level of the previous monthly trading session which is the month of August. And even at one point nearly breached to pass past that low level but seems buyers held fort and rallied the price up with a huge momentum to this month trading session open price level.To get more news about WikiFX, you can visit wikifx official website.
It seems the general sentiments of the market indicates this pair is quite overbought as you keenly look at larger context of structure with lower highs as seen on hour 4 chart but not a text book perfect formation
As of the start of this week trading session there has been a strong red momentum candle break and therefore what we had anticipated as the low price level for the trading month of august providing and proving a strong support level as it actually having been tested three times has now been breached past and we are looking to ride the sell rally.
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.