Our buy stop was stopped out by 6 pips to our take profit price @ 151.071. The H4 order block is a better tp zone but went further to target the hourly order block instead. Double top and false breakout to the upside.
Concerning this trade on the 4H, will be taking a short targeting the order block @ 149.884 on the daily....
Overall projection on the H4 and Daily price is bullish and is making a touch on a trendline to the upside,
Price breaks out a falling channel making a retest at its previous resistance zone that becomes our new support
50% fibbonacci retracement
Risk 30 pips , Reward 177 pips
AUDUSD - LONG SETUP
Price is on an uptrend , since it made a higher high breaking the previous resistance , waiting for the formation of the higher low for our Buy setup.
50% on our Fibonnacci retracement ,
We see price touching the trendline three times, anticipating price to move higher
H2 Morning star candlestick formation shows Bullish momentum
Buy setup , price formed a wedge pattern that suggests continuation of the trend ,
Price breaks above , makes a retest to the previous support , looking to make higher highs
Targeting 88 pips , Risking 23 pips , RRR 1:3
SHORT SETUP on GU , Overall on the H4 we see price respecting the previous resistance and being pushed to the downside, made a lower low came back to a strong monthly zone which is our 50 % Fibbonacci Retracement level,
My Projections are that price will drop futher to the previous zone which is @ 1.38666 , Risk :20 pips , Reward : 90 pips , RRR 1:4
Aussie made a third touch on our trendline , overall direction is bullish price is at a key zone , 50% retracement on the daily timeframe , Calling a Buy setup here , Risk : 30pips : Reward : 190 pips RRR 1:6 , Enjoy
SHORT SETUP ON EURGBP ,Price been making lower lows and made a lower high at our 50% retracement , which is our third touch of the trendline , Risking 18 pips for this trade possible Reward is 67pips ,RRR 1:3