1hr timeframe shows a small bearish setup as well.
on the gbpnzd, price formed a large rising wedge pattern while creating a smaller version straight after. I believe price will touch support zone as it has been tested many times from the two patterns. lower timeframe consists of different setup so stay online for that one.
on the gbp/usd. I see an ascending channel on the 4hr timeframe. overall bias is bullish with support line being respected multiple times and price is forming higher highs and higher lows, I am hoping price creates another HL to support my idea. 4hr/1hr timeframe shows a lot more of the channel and a lot more in-depth details about entry and take profit.
SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4-12hrs Actions on - A – Activating Event Market consolidating above the 200 mva and has reached a condition of being oversold.In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 1.505 ...
Been some extremely bearish news about XEM in the past few weeks but a bullish chart is a bullish is chart and ths one looks like it has at least some temporary upside to take avantage of. Short term long.
Resistance between 110.523 and 110.455. Good opportunity to sell. Good Luck.
Cheers to XPCollector7 for spotting this smaller time frame ihs on xrp before priceaction had even reached the peak of the head. I just noticed there was also this one as well on BTCUSD. time frame works well on both 3 minute and 1 hour chart on this pattern. The volume profile on this one is as textbook as they get...so it all looks pretty bullish with the...
On the gbp/aud setup, I see bearish momentum regarding the resistance zone being touched. This is in confluence with resistance trendline + resistance zone + bearish flag. On top of that, 1hr timeframe shows the cross over of MA's so wait for price to break through red MA before entering.
on the eur/gbp there seems to be a basic support and resistance channel going on. Delving in to the 4hr timeframe, I see a rising wedge pattern WHICH could also be a double bottom as well. Either price will break out of the rising wedge and retest support OR it could break above the rising wedge and go up. Either choice is up to preference of trading style. 1hr...
USD/CAD has shown to be retesting the support line multiple times so I am hoping it would it will go up until it reaches the resistance zone + moving averages show the cross over at lower timeframes. Lower timeframes should be used to check for breakouts/retests.
strong support showing on the usdjpy with a rising wedge shown on the 1hr timeframe which will be updated in this analysis. I am hoping that the market will break out of the rising wedge and retest the support line so that we can enter in this trade.
eur/usd seems to be forming a falling wedge and the wicks seem to be touching the support more than once so I would assume that the market will drive up to higher prices. I've added two take profits to levels where I think price may touch and then go down.
Looking at gold it seems to be following a downward channel. Fib was used and it showed a 0.7 retracement from the current lower high. 30 ma also shows a cross over in the 4hr and below timeframe so this is another indication that sellers are in control.
1-hr chart EMA Strategy: GBPNZD Short Trade Entered @ 11:00 AM Wednesday 26/12/2018 Checklist for Short: 1. Retest @ EMA (25, close) - 2. EMA (25, close) holds as resistance - 3. Last Candlestick longer than the previous - 4. Reversal Candlestick Pattern - 5. Long Upper Shadow, Short Lower Body Risk - Holidays, so charts might behave funky