We have a double top followed by break of structure to the downside, followed by a retrace to 0.618 fib - which gives us an opportunity to get short with 2618 strategy. I trade this setup without waiting for confirmation by, for example, engulfing. However, I put my entry higher than 0.618 to get better risk to reward. Target just above a previous structure,...
Simple price action trade. A Bounce off the Daily trendline, continuing the downtrend with a safety option for a long if price decides to break out of the daily downtrend. Short entry just below the Daily trendline 1.06838 Long entry just above the previous swing high 1.07800 Waiting on another possible retest of the Daily trendline before short entry.
1. Bearish bat formation which turned out a winner, but not before putting up a fight. I entered this one since we also had a previously tested support and resistance area. 2. If the marked decides to push the price down we could see a complete bat formation. Although Im not too happy about the bullish trendline being violated, which itself is a bearish signal....
See description on the chart. As for the placement of stops and targets; I see these two as completely different trades with each rule set. Hopefully, we get filled with the gartley before taking both targets. Alternatively, we shoot upwards, continuing our bullish journey. After all, we're in a bullish channel. :)
I'm basing this idea on two main keys - Bat pattern - Broken bullish trendline (lower pennant line) .. And the bearish rotation supports the idea together with previous structure zones which should act as resistance. Lets not forget overbought conditions! Second scenario, and one that would stop me out, is the retrace into pennant before continuing its...
My reasons for entry: Completion of bearish Gartley (D) D also coincide with broken trendline which should act as resistance We have a lot of previous support which should aswell act as resistance. Placing my target safely above previous proven support areas looking back. I could ask for more as for taking profit, but I rather take small safe pieces at a time...
Hello Traders This is my Graphic for Monday in Morning UTC... In morning we have some Economic Feeds for down the Eur with SELL. Please reply me .... Best Regards... Have a good Monday Trade...
Technically EURGBP is overvalued, trading outside 800 period BB on the daily chart. Long term bearish divergence is seen towards 0.90 and 0.92. Targets = 0.86 (missed monthly pivot) and 0.81 (missed monthly pivot) with profit being taken every 100 pips along the way to these targets. Fundamentally the Euro should remain under pressure since Draghi has not...
Why? Broken bullish trendline, should as act resistance. 61.8 fibo retrace Structure, previous support, should act as resistance Bearish trendline, should act as resistance What more would I want? I'd prefer RSI to show even more overbought, but still, enough to hold my case. Taking profit above previous structure support. NFP tomorrow, but since this trade...
Entering at 115.580 on following basis; Advanced pattern - Bat - D completion. In conjunction with the completion of the Bat we have bearish falling trendlines (long term + short term). We have structure and on top of this we have RSI showing overbought. Target is 38.2 fibo of A-D leg. Stop loss at a level where Im considering myself to be wrong. - Above...
EURUSD 1 H Short Support: 1.12000- 1.1160 This is not investment advice
We have lots of fun stuff going on here. Price is heading into previous structure and resistance zone which have proven itself several times in the past. We have a bearish gartley just about to reach its D completion - which in turns comes very close to the previous, broken, bullish trendline which also should act as resistance. Looking at the hourly...
after broke @0.77245 it in short sell trend
CAD strength supported by ralling oil price.
On the daily time frame we can clearly see a down trend has formed. Price action has clearly hit a big level of resistance at the 132 area and has made clear its bearish sentiment. I think we can easily see a drop to the 126 level. Be patient and always practice proper risk management.
EURJPY 4H triangle short. There is nothing much to describe as the set up speaks for itself. Except that there could be spikes either way as Yen news is expected soon. Although I expect an impulse move to the downside all eur pairs seems to be in Daily/weekly correction.
Learn 2 trade like a pro FOR FREE boafx.com - We expecting positive data and hawkish tones from the BoE today with a possibility of the MPC vote coming in at 2-0-7 as the BoE already said they would not let the chinese market effect their decisin on monetary policy. Pressure is on the ECB to extend and increase the QE program which should weaken the Euro currency further