If it breaks above once again it will most likely will go up because it will increase the chances of a real breakout. The trendline is also showing us the market is in a uptrend.
Nice break of structure, we then see a retest and a rejection of the key level with a 1H double top. Entry below the engulfing candle for momentum to continue and SL safely above structure.
Price has created a double top and failed to make new highs, new trend has formed with LL created and now LH with engulfing candle, providing evidence for rejections.
Potential sell trade here on GbpUsd. Best scenario here would be to wait for a breakout of this triangle pattern. I'm personally looking for shorts.
Keeping it clean and simple.
Journaling/learning purposes.
List of confluences:
1:Stop loss hunt at previous low on weekly chart
2: Double Bottom formation on daily chart around previous low on weekly chart
3: Daily chart and H4 trendline breakout
Summary:
Price is currently over extended and has been moving in a down trend for 3 weeks straight. We are looking for a potential pullback to just above the 50% ...
Update on yesterdays idea. I got beautiful 50pips running. I got my entry on a 15min evening star at the NY session open.
TP1 incoming.
Let's see if it can drop back to the 1.3600s zone.
journaling/learning purposes.
DXY Can See A Pull Back At This Level. However As Long As DXY Close Above The Trend Line We Can Continue Bullish. However If We Close Below We Will Have To See How Price Reacts To Recent Structure Points (RSP) To Able To Maintain A Bias - Long or Short. This Can Help The Fait Of Gold. Though I Am Favouring Bullish Dollar.
Pull Back Possible Before Long, While DXY Pulls Back (Temp/Short Term Play) - I Feel If DXY Keeps Producing Bullish Market Structure / Higher Highs - Higher Lows - Gold Will Be Bearish Longer Term. However If DXY Breaks Bullish Higher TF Structure Gold Can Continue Bullish. See DXY Analysis For My Directional Bias Thoughts.
As Always Structure Is King &...
BTCUSDT / BTC USDT Bitcoin US tether. #BITCOIN #USDT #BITBAY
HOW I WILL FARM THIS MARKET GAINIING TOTAL OF 500% from alts / bitcoin / alts to Fiat USDT. (strong week for alts - but bearish for long term(monthly))
Pink rectangle should be the Sell area,
Green rectangle should be my buy area.
*Tips to myself is I will never fomo in to an alt that has huge gain...
1: Head and shoulders Pattern clearly visible on the Daily Chart. Price also created a New Low by breaking the lower high around the area of 108.330
2: Price would need to break the key level of 107.460 - 107.450 area as confirmation.
3: The target will be based on how deep the breakout is.
4: Will take up to two weeks for the pattern to complete before...
Confluences:
1: Daily Chart Trendline Breakout
2:Daily Chart Double Top Pattern Formation
3:Price Create a new low and on daily chart failed to break above previous lower higher for 5- 9 days.
Wagwarn my slimes please leave feedback to help me improve and trade safe.
We're looking at GBPCHF here which is very very overbought so we're looking at a nice sell. We may be abit late to this move but market open will delay if a bit for sure with some volatility and spread AIDS.
Price has been ranging since the 11th March and we've seen that resistance...
Confluences:
1:Daily Chart Trendline Breakout
2: Daily Chart Bullish Engulfing Candle
Entry:
An entry in the early hours of Friday Morning (Before London Session) is best. Trade will run for 2-3 day or until target is reached. Whichever comes first.
Summary: EURCAD is in a strong down trade on the Higher time frame such as the monthly and Weekly. This is...
Hey guys hope you're doing well reading this.
Fib drawn between yearly high and lows - recent spike brought us up by roughly 400pips, we're currently seeing exhausted / rejection candles forming an arch shape, like an upside down "U" which is much clearer on the 4H chart. This is a less common trend reversal pattern, but we can put some faith in it as price is...
