Wherever the market goes we go!
----> Top Down Analysis Price Action Weekly>Daily >4hr>1hr
----> Support & Resistance Structure & Key Levels
----> HH, HL, LH, LL, FIBS
----> Price Action & Candlestick Formation(s)
----> Daily/4HR Targets & Stops - Swing Lows & Swing Highs
----> Break & Close of Major S/R Structure - Bullish or Bearish
----> Candle - Structure - Fib - Bias - Overall
Weekly - Price is currently in a bearish trend. It has made a double bottom (which can be seen clearly on the daily time-frame). It also finished as a bearish candle. We can see a potential pullback with lower lows expected.
Daily - There is a strong daily support which price reached and touched for the 4th time. We could see this bullish pullback form into a strong bullish run and possibly extend beyond most recent daily resistance. With the BOE announcement looming this week, eyes must focus on the daily close to see if price is just a pull back or a strong bullish run. Bias - bullish.
4hr/1hr - Posible areas of targets
Buy
Entry: 144.25
Targets: 146/147
SL: 143.7
----> Top Down Analysis Price Action Weekly>Daily >4hr>1hr
----> Support & Resistance Structure & Key Levels
----> HH, HL, LH, LL, FIBS
----> Price Action & Candlestick Formation(s)
----> Daily/4HR Targets & Stops - Swing Lows & Swing Highs
----> Break & Close of Major S/R Structure - Bullish or Bearish
----> Candle - Structure - Fib - Bias - Overall
Weekly - Price is currently in a bearish trend. It has made a double bottom (which can be seen clearly on the daily time-frame). It also finished as a bearish candle. We can see a potential pullback with lower lows expected.
Daily - There is a strong daily support which price reached and touched for the 4th time. We could see this bullish pullback form into a strong bullish run and possibly extend beyond most recent daily resistance. With the BOE announcement looming this week, eyes must focus on the daily close to see if price is just a pull back or a strong bullish run. Bias - bullish.
4hr/1hr - Posible areas of targets
Buy
Entry: 144.25
Targets: 146/147
SL: 143.7
Trade closed: target reached:
Here is where the technical and fundamental confluences meet. The release of the BOE statements and interest rates coupled with rejection and close below the 4hr resistance signalled a sell opportunity. This also aids the fact we created a new higher high before this and therefore needed to retest the market structure we had just broke.
Here is where the technical and fundamental confluences meet. The release of the BOE statements and interest rates coupled with rejection and close below the 4hr resistance signalled a sell opportunity. This also aids the fact we created a new higher high before this and therefore needed to retest the market structure we had just broke.