If you like trading 4-hour charts then you’re in luck!
EUR/USD is sitting on a range support while Cosmos (ATOM/USD) is hanging near a mid-channel level.
What do you think of these setups?
First up is a simple range play on EUR/USD. The pair is poppin’ up hesitation candlesticks near the 1.0150 minor psychological handle!
As you can see, 1.0150 is juuust above a range support that’s been around since mid-July. And if that’s not a good enough buying signal for ya, you should also note that Stochastic is showing “oversold” signals on the 4-hour time frame.
Watch out for a bounce from current levels, which could push EUR/USD to the 1.0200 and 1.0275 areas of interest. Of course, EUR could still drop to the 1.0125 range support before seeing sustained buying pressure.
Not convinced that EUR/USD is due for a bounce? You can also bet on a downside breakout if you see the pair trading and staying below the range support that we’ve marked.
Whichever bias you end up trading, make sure to stick to your trading plan so you don’t end up making newbie mistakes!
Crypto brothas gather ’round!
Cosmos (ATOM/USD) is consolidating near 11.30, which right smack at a previous resistance zone on the 4-hour time frame.
What makes 11.30 more interesting today is that it also lines up with the 100 SMA AND a mid-level support of an ascending channel.
Are we looking at a pullback before ATOM extends its uptrend?
Buying at the first signs of bullish momentum would make for a good trade especially if ATOM/USD makes new monthly highs in the next couple of days.
If you see ATOM breaking below the mid-channel and 100 SMA support levels, though, then you also gotta be ready to trade dips to lower support zones.
Good luck and good trading this one!