a rejection from the channel wall now and with the NFP result been positive for dollar i expect dollar to move back to 1960-1970 zone before another push
after our initial entry at the QML level , we have bearish engulfing price action on the daily time frame which confirm our sell bias , im expecting more sell to the LOW of the structure which will serve as our TARGET
chart is clear to say everything. after all target done in my previews chart .
we have candlestick pattern which is confirmed with cci divergence.
and the weakness of price to to rich 10 k after long wave like fomo of market after 9700.
but it couldn't pass that. so we have correction.
our next stop will be the support zone under the price about to green...
Waiting for it to reak out of the resistance zone and create a bullish engulfing/shooting star candle to place then aim for previous high support levelif it breaks lower level ill wait to see if support zone becomes resistance zone then think about a different entry to the downside or possibly wait for it to break upwards
A bearish crab check-back gives the trader an opportunity to engage the shorting opportunity as a counter-trend trade.
A check back with resistance respected can be used as a guideline of if the market is heading down it shouldn't break and close above the candle.
2pm(+8GMT) BOE rate decision will definitely make an impact on the movement.
on 1hour time frame its showing an uptrend and formed an engulifing candlestick pattern to support uptrend. and lower down on the 15 min time frame it is showing signs of breaking resistance and forming as a support for a short uptrend.
Like I previously analysed, EURGBP retested Daily lows and started to show rejection. Entered at the second shooting star candle. Looking to carry the shorts till the Weekly Lows.
A bullish bat pattern within the consolidation zone. Take note that Point C touches Point A, I will need to see a candle confirmation to engage this trade.
Well , seems we have a classic spinning top candlestick on the Bitcoin 1 day chart . I recently did a chart showing the Gann Fan as well as the CME futures gap on Bitcoin near 118xx which already filled . But now we have what looks like a reversal candlestick . When a candlestick has a very small body evenly in the middle of two long wicks it's called a spinning...
Eurusd ended the month with a shooting star on the daily, this signifies a bearish outlook.
I am expecting a little bit of reteracement to around50% of the daily shooting star. before a further down pour
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I'm waiting for the candle to break and close above 1.8365 for an additional buying opportunity. I'm seeing a great potential for a mid to long term of an appreciation movement on this pair as a trend reversal trade, let see how this trade pans out.
A check back on this bullish bat pattern with a bullish engulfing candle has given a great signal for a buying opportunity, what's left is a buying opportunity on the lower timeframe to execute the trade.
Overall USDJPY set up for a trend trading setup. 106.74 is an important resistance level for trend traders to observe for a shorting opportunity.
105.28 to 104.79 presents itself as a buying opportunity for counter-trend traders.
If market head up to 106.74 before retracing, I will wait for candle confirmation to short as a trend trading trade, however, if the...
The GBPUSD has finally rallied to the previous level of structure resistance that we had on our radar. Now although we had a nice candle to close the week, we must remember that not only is it the close of a week but also the close of the month.
A good sign of confirmation for a little relief lower would be a lower low, lower close candle.
- Akil
GBPUSD is not seated at a region for an aggressive demand zone for buying opportunity, a bullish engulfing as a candlestick confirmation is important for this trend trading opportunity.
The previous high at 1.3161 became an important resistance for observation for a counter-trend trade or sideway bounce trading opportunity. Trend Traders will be looking at that...
