Following a lot of bullish momentum on this pair since september, it now looks as if price is beginning to look exhausted. We had an impulse, correction and continuation of the bulls since september, but in the last few weeks price has slowed its ascent and this has formed a ascending channel on the 4 hour.
Within this channel we have had 2 touches to the...
Potential GARTLEY spotted in EURGBP 4-hour chart
TP1: 0.8431 (86 pips)
TP2: 0.8494 (149 pips)
SL: 0.8242 (-64pips)
To open trade at D point (aggressive) : 0.8306
Expected price to touch D point by 4 Mar 2020, 6pm SGT).
Pattern deemed invalid after 13 Apr, 9pm SGT
Short set up -
Supply zone has multiple indecision candles - The demand zone needs retesting
Worth noting - two supply zones on top of each other
one a 4 hour
second a daily
BTCEUR is in the most ugly zig zag formation I've ever seen:
- wave B retraces more than 100% of wave A
- wabe B is a complex WXY structure
Though wave C is still not complete, I'm quite positive this wave is a zig zag, though the most ugly zig zag ever seen.
Note the other lines are part of 2 bigger pitchforks.
EURUSD - Longer term, i believe the daily bottoms will be reached at least due to the overall direction on the daily TF
will see how it goes.
Any questions feel free to ask
Good morning ladies and gentlemen! Beam has had some serious downside action. And to some of you, that may be scary and I completely understand. But the golden curves are a representation of the flow in the price action. And what we saw was pure capitulation on Beam. It was the reverse parabolic moves we see in an uptrend on other assets that everyone gets all...
This downward trend seems to have ended its journey, with the confirmations coming from the S&D zones, i think its time to go Long.
DISCLAIMER!!!
Past results does not guarantee future certainty.
I am excited to show you all the major improvements I have made to the TrendBar indicator. This idea shows how well it works for ETH on the 4 hourly chart. Remember to use Heikin Ashi candles!
Check out the indicator here:
1. It is an unusual formation to have.
How to trade it? Well, it is always 50/50 situation.
You basically trade in the direction of the breakout.
2. It is not common to publish an idea for 2 different Commodities however they share the same pattern. That's why I decided to share both of them as the same idea.
Keep in mind they might go in opposite directions...
We can see Gold about to come into interaction with our 4 hour support zone. If I begin to see exhaustion I'll be looking to spot reason for long entries, carrying us up to the mid range zone for our TP 1 then to our main resistance for TP 2 wit SL placed below the zone. To further our confluences on this I'll be looking at the dollar index to see if I can spot...
its all about knowing the direction I have a short bias on this pair according to higher time frames but waiting for the price to reach where i can get a good RR ratio, you can enter at this price for a 1 to 1 RR ratio tp on 27% Fib ratio but its better to just for for the sell limit to get activated as we have missed on the first wave
good looking divergence at resistance at a pulleback, since of uptrend weakness on price action for a nice 1 to RR ratio you can put the SL lower as you wish
