a retest to the broken trend line on 15m and 1 hour makes a good chance to shorten GU with a SL above the latest high target will be around 4130 - 4100 level.
a very nice head & shoulders has formed on the 15m & 30m time frames. This support our bearish analysis on the 4h time frame. It would be very strong confirmation if price breakthrough the nick line of the head.
a clear major resistance has been formed around 4200 level resulting in a possible channel targeting 4000 support level. A breakdown of the trend line will certainly confirm the markdown. I have taken the chance and gone short from 4200 with SL @ 4213 targeting 4140 with 50% of lots and the rest will target 4110.
We could see price is forming a very nice channel .It is now trying to reach the top of the channel 3880 - 3900 level. After which it is anticipated to turn south towards the the bottom of the channel at 3730 - 3750. Your thoughts and feedback is highly appreciated. Good luck.
A head & shoulders is forming on USDJPY which makes it a possible nice long trade. I have entered from 103.40 with SL on 103.15 and my target is 134.00 for now.
GBPUSD established a nice channel. Price now is in the middle of this channel. We have two scenarios. First scenario is a bullish one which will take the price to touch the roof of the channel at 3580- 3600 level which will result in more bearish pressure to force the price down to 3330 – 3300 level. The second scenario is bearish which will force the price to...
GBPUSD, in my opinion, is Going south (short) today to test the trend line a very good short position was from 3375- 3380 first target is around 3325- 3310 where price is going to touch an test the trend line. SL could be placed on the 3395 - 3400 . Your comments and feedback are highly appreciated. Good luck all.
Price has reached the looking for range of 3365-3385 establishing a new high and touching the top ling of the channel. any short position today should be carefully studied with stop above the closing high of the hour just ended.
