Excellent risk-reward ratio - Potential trade

19 juin 2020

Fed Chair Powell is speaking right now, and this could be just a false breakout. I don't think the market ready to go higher this week, needs a more robust catalyst.

Next week will be exciting, We all waiting patiently to see US GDP, Jobless claims, PCI, CPI, and Bank stress data.

PS: This analysis fails if it can break out and close above the "POTENTIAL SELL ZONE." Please don't trade this analysis blindly.

19 juin 2020

Note

Fed's Powell says economy's path ahead likely to be challenging - Source Reuters

20 juin 2020

Note

The market closed precisely at the pivot. Honestly, the price action looks sketchy. Maybe next week will open with a gap up, perhaps a rejection. Time will tell.