At FXEQ Trading, we focus purely on price action, rather than company fundamentals. Our goal is to understand how price behaves around key levels and allow the market to guide our decisions.
Current Market Structure
Looking at the weekly chart, price is currently sitting right on a long-term ascending trendline.
This trendline has historically acted as a major structural support, making this a critical area worth close attention. Levels like this often become decision points where the market either reacts or breaks.
At this stage, we do not anticipate outcomes.
We simply observe how price reacts.
Potential Scenario
If the trendline holds and we see a reaction, a short-term bounce could develop.
One key level to watch sits around the 178 region, which:
- Previously acted as support
- May now act as resistance on the daily timeframe
This type of behaviour is known as support turning into resistance, a common concept in price action trading.
However, it’s important to emphasise:
👉 This is a scenario, not a prediction.
Confirmation Is Key
Our approach relies heavily on confirmation through price action.
Without confirmation such as:
- Strong rejection from the trendline
- Break of short-term structure
- Momentum shift on lower timeframes
— any expectation remains temporary.
This is why patience is essential. The market must prove its direction first.
Our Approach
We continue to:
- Monitor price behaviour at key structural levels
- Wait for confirmation before taking any view seriously
- Focus on execution and risk management, not prediction
Because consistency comes from reacting to the market, not forecasting it.
Final Thoughts
The current level on CRM is technically significant, but the edge lies not in identifying the level. It lies in how we respond to price at that level.
We remain patient and let the market lead.
Disclaimer
This content is provided for educational and informational purposes only and does not constitute investment advice or a recommendation to buy or sell any financial instrument. Markets involve risk, and past performance is not indicative of future results. Always manage your risk and position sizing accordingly.
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