The Trading Pit on LinkedIn: How do I Start with The Trading Pit (2024)

The Trading Pit

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Start Your Trading Career with TTP 🚀 Ready to kickstart your trading journey but unsure how? The Trading Pit welcomes all traders. Simple registration and The Trading Pit Challenge pave your path to excellence.Learn more in our latest video⏳ https://lnkd.in/di-zB_mQ#thetradingpit #traderjourney #tradingcareer #tradinglife #tradingtips #tradingview

How do I Start with The Trading Pit

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    The Trading Pit Week Ahead Market Outlook (18-24 March) 📊🟣EURUSD, Daily:As per our analysis last week, the price entered the 4-h Bullish Engulfing Order Block and bounced off, moving upwards, creating the R1 resistance around 1.08997. As the price on the 4-h chart declines, the RSI is below 50, indicating bearishness in the market. If the price continues to move downwards, the S1 weekly low of around 1.08730 will be the first support. If the price declines further and penetrates the S1, the next support, S2, is another weekly low of around 1.08402. At this level, we identify a 4-h Bullish Engulfing Order Block.🟣GBPUSD, Daily:Out of all major pairs, the Sterling shows overall strength against the US Dollar, as observed in the weekly chart. The two moving averages on the weekly chart show an uptrend. However, last week’s price action was an inside candle, crediting strength to the US Dollar. The daily chart creates higher highs, which is a potential development of a new uptrend. The RSI oscillator is above 50, supporting a bullish bias.From the low at point (c) to the high at point (b), the Fibonacci retracement level of 61.8% is around 1.27.🟣AUDUSD,Daily:Following the recent upward move on the Daily chart, the price entered into a correcting phase last week, and on the 4-h chart, it created a series of lower highs and lower lows, indicating a bearish market. The RSI is currently below 50, supporting the bearish bias. If the price on the 4-h chart continues to move downwards this week and penetrates the previous week’s low of around 0.65522, it will find the next support around 0.64927.Read More on our Blog 👉 https://lnkd.in/dgsuNWHr#thetradingpit #trading #market #marketoutlook #dailynews #gbpusd #eurusd

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