I marked few important price actions. First harmonic formation appeared at the end of the March. There is a rule where 61.8% retracement is corresponding with 1.618% and 32.8% retracement is corresponding with 1.328% which gives us perfect ABCD formation where AB = CD. Another signal for further bullish movement is fact that pair is trading below 200 EMA. I...
Triggering the Article 50 was bullish for the pound as I expected. Three long red candles appear last week and we are now seeing a retracement. Indeed the pair reached the 1.618 level of the first impulse and we might expect a retracement to the 0.382 level of the second impulse. The pair also challenged the 200 EMA and it might pierce it soon.
Best level for the...
today gbpusd is coming back to retest a daily support/resistance zone, therefore i want to look for some opportunities on the lower timeframe. On the hourly there's a nice pinbar that tells me there's buying pressure. Besides, price has also created a double bottom with RSI divergence that you can see on the chart above.
The consequent break of structure...
just wanted to share with you this analysis i've made on AUDUSD. All this starts from higher timeframe, if you take a look at the daily chart, you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing.
So the first thing i want to see is that price is at a structure point, then i...
Overbought level has been reach as suggest by the RSI.Need consolidation stage due to GAP UP done this day. The circle line near 38.2 FIBONACCI leve is a good opportunity to buy. Cutloss if 38.20 FIBO level was break. MOney inflow also depicts that smart money has been coming out.
After Bullish Candle Stick Formation
Price @ Back Side of the Trend Line (BLUE)
Touched Uptrend line (Pink)
Higher Highs (Support, Blue Arrows)
Very Sharp Counter Trend Line Break
StochRSI Over Sold
Entry: After closing of the daily Candle (This Friday), Place Trade Monday Afternoon
Stop: 10 Pip Below Previous Low (153.229 appx.)
I copied the following idea; and justify with my own strategy. PLS DO NOT FOLLOW IT BLINDLY!
Price below the upper trend line of the channel.
.382 retracement of down AB Swing
StochRSI Over sold
BEARISH TWEEZERS TOP
Head and Shoulder Pattern
Price @ back side of up trend line
Price retraced from .382 fib level/ Restesting the retracement
SELL ONLY IF BEARISH CANDLE STICK FORMATION OCCURS BELOW THE TREND LINE (BLUE)
OR ANY OTHER REVERSAL AT 15M CHART
TARGET: 5 PIP BELOW 1.618 fib extension of down AB Swing
.618 retracement of UP AB Swing
During the last months we see a downtrend in this index GER30 and now a possible Pull Back!!
What about Fib retracement. We can see that there is a retracement made back to the 38% and now moving down again.
Technicaly could be our next goal the 127% line as possible profit target.
What is your opinion? - Short on the trendline break?