Double top pattern formed after price was rejected of the resistance zone for couple of times. The pair should be shorted if we have an additional bearish sign, such as breakout of the support trendline.
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EURAUD is trading on a key daily/4h structure resistance.
it is a very important moment for the pair and the reaction to that will show us the future direction of the market.
I am still short biased and currently looking at a rising wedge pattern on 4H.
on a lower timeframe, the price is forming a head and shoulders...
The pair is printing higher highs and higher lows = bullish
On this multi timeframe analysis we can see that the price is at or above the cloud (H1/M15/M5) and the lagging span has no immediate resistance.
H4 confirms this as well.
I am buying now @ market price and will target the previous highs @ 1.83850 levels.
Trade at your own risk
Happy Friday everyone! Hope you were able to profit from these trade set ups I've had in August as I have.
Quick setup into next week, look at the red line levels for buy entries.
TP @ green line
50+ pips potential
Good luck trading!
Let me know if I can help in any way!
Trading made simple.
July @ 11%
Price has nicely formed a head and shoulders pattern, which it broke down from, coinciding with a break of the rising trend line.
We could see price have a retracement to the structure zone, where the 38.2 Fibonacci level is at, and possibly retest the descending trend line as well.
With multiple confluences,...
Price is facing bearish pressure from our resistance and trend line where we could see a drop to our first support level, 20 period EMA and Ichimoku cloud are showing signs of bearish pressure as well.
AUDJPY is approaching 1st support at 76.32 where it could potentially rise further to 76.70.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
The pair had broken out of the long term downward resistance line and is now consolidating below the resistance in the bullish triangle/flag.
Even though the pattern is bullish, it can break out either way, thus:
1-wait for the breakout, either way
2-make sure it is confirmed
3-Enter the position on the...
The pair is printing higher lows and higher highs (HL/HH), suggesting buyers are in control. It's currently above the pivot level.
EUR is one of the strongest pairs today and NZD one of the weakest.
The pair broke on H1 and M15 major levels:
- on H1 and M15 price is now ABOVE the cloud
- on M15 the lagging span broke the Kijun-Sen, Tenkan-Sen, and the KUMO,...