we had a massive rally up during the Europe session, market is currently in a pullback mode. im looking for a buy setup .
Looking at the chart above, you can see the original daily structure break to the upside, shown in blue. Then you can see the H4 structure which is forming, shown in green. I have entered the long for wave two on the H4 structure. Happy Trading Linton White JP Markets South Africa
The European pairs have closed back below the Weekly/Monthly Support....And a Head & Shoulder pattern is seen to form at this support (strong confluence!!) on the Daily chart. We can expect price to meltdown to the Weekly ascending trendline below to act as support. For now only look for sells!....price is retracing to a 61.8 zone
Price action in the hourly time frame is showing us that we have a highly probable Head and Shoulder Pattern forming. The way we execute in this Bearish Market, would be to wait for the breakout of support which is our Neckline. Waiting for Bearish Reversal Confirmation at the pullback of previous structure then executing ourselves into the market after the...
Possible correction at this price. We used Elliot Waves to determine the turn point. On the other hand this price of GBP is at 2 year lows which could also indicate down turn aswell as seasonal effect in September. We think that the correction should hit price 92.200 and at that price we will see if it breaks out.
*Yellow = 200 EMA | Blue = 100 EMA This is my analysis of EUR/GBP , a pair which has a crossroads ahead of it, particularly this upcoming week. Currently, I see 3 different options : A) Play into Consolidation This is the most probable option especially because we're currently moving on a steep trendline and on bearish divergence. Current price action...
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.8955). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURGBP is in a range bound and the beginning of downtrend is expected. . Price is below WEMA21, if price rises more, this line...
I am looking at this bullish corrective structure on the daily time frame. Price is now at the top of wave 4 and needs to confirm either a breakout to the upside or a reversal for wave 5 first. I expect price to move around this level for a while before making a definitive move so will be trading both long and short positions on lower time frames. Happy...
For this setup I'm zooming in on the 1 hour time frame. While this pair remains on a bearish trend overall on the larger time frames, it looks like we will be getting a drawback. Keep in mind that since this setup is technically a drawback right now that it carries a little more risk than a standard trend trade setup, so I will only be risking 1.5% of my capital...
EUR/GBP has been sleepwalking towards the edge of the cliff and it will wake up while free-falling.
This is my expectation of EUR/GBP. I think there are too many seller (24% buying - 76% selling) This is a no brainer for big players to bring this pair back to the recent highs. Lets see how it goes!
Accumulate between 0.87809-0.87620 Tgt 0.88938 & 0.89721 Stop Loss 0.87450.
Aggressive Entry @ 0.9030 with SL @ 0.9100 Moderate Entry @ 0.9050 with SL @ 0.9120 Conservative Entry @ 0.9100 with SL @ 0.9160 TP @ 0.8880 / 0.8720 / 0.8620 / 0.8500
Complex Pattern is pointing towards a possible sell-off in a Minor Wave C (red), which could be quite big. If you like what you see and wish to communicate, please see more details in my signature.
Getting ready for battle in advance! So if we go up to my magical box, that's the 0.786 fib, the previous fibo's got respected so this one should, and also it's a resistance tested and rejected turned support for a few days, turned resistance again. It's highly likely that, if we reach it, there will be a rejection. If not, I'll look at next resistance area.