Hi guys. Im expecting downs till one of that areas as a trend follower pattern. Let's see ;D
Hi there. We have a good butterfly pattern in a daily range. The minor trade have been put into play because of the state of the price in lower timeframes... As soon as the price fall till our biggest trade, it will be overextended. Stops loss is really good in both. Hope the best.
HEAVY consolidation on USDCAD,during the time of year that USDCAD usually thrives.
Daily Bearish Gartley Price closed above the Daily Support @96.48 overall trend still uptrend due to higher highs and higher lows being created
AUD/JPY has been in a downtrend on the 4H chart for the last 3 weeks, the down channel being a corrective structure of a bigger uptrend. Now we are looking on the price breaking out of the channel, suggesting a changing in forces on the market towards bulls side. Long positions will be initiated if the price re-tests the downtrend channel or broken support...
After the sharp move down, we see a rising wedge forming on H1/H4 charts. This type of wedge is usually a corrective structure, before continuation of the move (in this case a move down). Short positions could be initiated if the price breaks the bottom trend line (a good idea might be waiting for a confirmation of the break, by testing the broken trend line)....
GBPUSD is currently moving sideways, following a recent downtrend. In this sideways market we potentially have a Gartley pattern 1.44392. which completes in an area of resistance. We could complete an AB=CD harmonic move in this area. Target 1: 1.47212 Target 2: 1.41713 For me this trade presents a good risk to reward ratio.
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Reasons for -Firstly as we can clearly see we are in a Triangle formation -We have had multiple bounces from the Bottom trend line which is now acting as Support -The previous Four hour candle was a doji on the trend line -Now this 4 hour candle stick is forming a nice big bullish candle which signifies Bullish momentum from Trend line acting as Support -We...