The triple top reversal tells us that buyers are getting exhausted or they aren’t aggressive enough to push the price higher of the resistance 1.01000.
We shall wait for the price to break through the support 1.00500 for a signal and go SHORT after a retest of the zone around our new resistance @...
We are presently on all-time major support on 0.70800 (Buyers' Zone) and it appears that price is finding it difficult to breakthrough hence a possible uptrend rally is imminent. This can also be confirmed with the present character of price not willing to continue the downward channel ABCD trend as you can see price not settling in comfortable at...
Price has broken through the flag pattern formation to the upside indicating an uptrend continuation.
The channel EFGH (upward range in green) emphasizes a channel continuation to the upside as well.
Note that price was unable to break the hidden range ABCD the last time it was there (15th May 2018). Now it is back into this range 9 months after with a...
Its been a minute since my last post and i just want to share with you a possible bear cypher on my radar this monday on the GBPUSD
things are not looking pretty for patterns lately but this is the journey of trading that we all expect and prepare ourselves for.
plan your trade, trade your plan
Okay I did this analysis weeks ago. We have a trend continuation opportunity. See how price creates higher lows after the drop to 0.6829s. Resistance held at 0.7750s. We waited for the break above and the pull back to go long. Target 1 at 0.8077 and target 2 at 0.8644.
HAHA!!! HOPE THIS IS A GOOD ONE.
ENJOY YOUR WEEKEND TRADERS
UNTIL NEXT TIME - PLAN YOUR...
The EURGBP is currently in a state of sideways movement which is called consolidation. Consolidation leads to expansion, so as i analyze this price chart they question that I want to ask myself is
IF Price action breakouts out to the ___ side
THEN where is it likely to continue to.
Doing so will allow me to see if there is enough potential profit (with limited...
I think @Akil_Stokes would like this trade setup. Possible 2618 completing right where a bearish gartley pattern completes. Should price rise up to the PRZ, then I think it's very much possible to get a nice short opportunity, with a good risk:reward ratio.
The advanced pattern is almost perfect. It depends on the rules someone has on trading these patterns (how tolerant they are on the percentages). In any case, I am aiming for a .38 retracement of the last leg as my first TP. My SL is placed on 1.27 extension of the last leg.
Ask questions & Give comments!!
Some greater than expected fundamentals have given us a very strong Euro today. Therefore, instead of trying to jump on the move late (a mistake that I've made more times than i'd like to admit while earning my trading stripes) I'm looking for area where the market may provide us with some release in the form of a counter trend trading opportunity.
Here on the...
From my harmonic pattern analysis, that possibly there might be a projection for shorting in the market, after the Buy I located in the green zone. Please do not place any trade yet as they are POTENTIAL, but if you know how to calculate where your stops and take profits are, by all means, go! But I will not be responsible if your trades are losing. So far all of...