Weekly Predictions and Ideas 20th May 2019

Welcome to another week of predictions for the week ahead and my portfolio is quiet as usual but still manages to lose me money this year it seems so theres that. So lets see what we have.

Euro I have been predicting a retest of the green line for some time now and we are slowly getting there but consolidating. We have go a falling channel type on the 1hr which we can expect to pullback and I predict it coming back to the red zone but I dont trade this type of pattern yet so nothing I can get involved in. GbpUsd has had a very very very x1000 strong bearish move recently and broken a decent level of structure. However we are currently at minor support at this wick and Rsi is oversold on daily which can give us a small relief. Now where would this relief come back to? If it happens then there is 2 locations I would predict. First is our green line which lines up with structure a cypher nicely and then the support turn resistance higher at our red zone.

AudUsd is boring boring boring for me as I expect for the next few months I guess. I like the reaction we got off the blue line becasue on the 1hr this line was our lowest close within that wick. However I am still not interested in anything from a longer term perspective. GbpAud we are at minor support but currently have a shorter term (1hr) downtrend which you could be involved in but for me I just wait and wait and have no interest really in my portfolio. That naughty drawdown porfolio :d. Anyways that wraps it up for today. I will leave you a video link to a full analysis on many pairs but quiet markets bigger timeframes for me. Make sure you subscribe to this blog and my youtube channel for more analysis.

Lach

Published by Lach Plays Trading

I'm a forex trader whos journey began January 2018 and has had its ups and downs but has taught me a lot about the markets and myself as a person. Documenting my journey and sharing my experiences for you to be able to learn from them and my prior mistakes. Fully transparent, not afraid to show losses or speak exactly what comes to my mind.

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