Price has recently been trending in downside momentum, now over the last week has been in consolidation (a descending channel with abcde correction), which it broke to the upside. Now a possible retracement (retest of the broken structure) might come and then we get a possible big move to the upside. Scenario: Long; @(50% - 61.8%) retest of broken structure. ...
Short on EURUSD after head and shoulders pattern and break through key levels. Bears power is also gaining traction
On some smaller time frames bitcoin looks to be forming a bull flag. The 4 hour looks like its going to push the local range top of 3800. We've dumped on low volume even after the ETF withdraw. If bitcoin stays steady and continues pushing upwards, it will look really strong. Until then bitcoin is still in a downtrend.
Whats up traders so based on my technical analysis I see a head and shoulders forming precise analysis with the retest of 110.510 support breaking it and causing a meltdown. With tomorrows NFP data if its negative but even if its positive there is resistance at 111.730 on the daily time frame. Depending on the market behavior tomorrow will determine my next move,
IS DOLLAR READY FOR CORRECTION ? ----------------- WILL United States SUPPORT UK AND SAVE GBP ? ---------------- Short Targets would be 1500
Potential Two Scenario's ------------------------ Scenario 1: ---------------- Dollar has to crash to prove GBP will appreciate Scenario 2 - AFTER ARTICLE 50 -------------------------- MORE JOB LOSSES (-VE) INVESTOR CONFIDENCE INDUSTRIES EXIT (NISSAN ETC)
GOING LONG GBPUSD IF MEETS MY ENTRY @ 1.2950 KEY SUPPORT, WILL BE HOLDING IT THROUGH THE WEEK