Reasons to go short - Longer term trend is bearish Returning to a strong SR Level (blue lines) The last time is was at this level there was strong sell off and this is the first time returning to it (yellow boxes) Completion of bearish bat pattern Good risk to reward
If the pair pulls back to either the 2.14 area there could be a potential opportunity for a short. Reasons to short - Trend is bearish Returning to a major SR level (blue line) The previous time it was at this level there was a strong sell off, and it is the first time it could return to this area (yellow box) A confluence of fibonacci levels from previous...
Hi everyone, Just doing my analysis for the week so thought I would put up a couple of charts to get some constructive feedback. I am swing trading at this stage by the way. Descending triangle has formed IMO signalling continuation of a bearish trend at the point. 3, 7 and 50 EMA's are all in order for a short set up, which is consistent with my strategy,...
GBPNZD has been trapped in a range on H4. Look to trade the breakout at 2.1877 to complete the 5th Wave on the daily chart. Apply due diligence.
NZD in good support. GBP QE/BREXIT possible Technically 1.1513 good support, be careful on the bearish breakout.
Perfect down trend, with retracement level Pin bar is happening right now..
SEE CHART FOR ANALYSIS - LONG TERM ANALYSIS - KEY LEVELS HAVE BEEN HIGHLIGHTED FOR MANAGEMENT POINTS
WIth GBP news coming out tomorrow lets see how this setup plays out. Good RR 2:1 Nice structure Bat Pattern Completion Cup n Handle Possibility Looking for possible Retracement to structure before continuation of move up.
basic textbook setup. price has retraced into a key resistance level which also has 2 fibs lined up with it aswell (38.2% and 61.8%). double top has now formed and price has bounce off the Resistance forming a pin bar/inverted hammer. Target at the neckline of double top.
(See the edit to Gartley #1 in the comment below) Looking at the 4 hour chart there are two potential Gartley patterns setting up: Gartley Buy Pattern (purple): Buy @ 1.9870 Sell @ 1.9770 (SL) (Note the typo in the above chart) Sell @ 2.0084 (TP) Risk: 100 Pips Reward: 210 Pips After the Gartley Buy, we also see a potential Gartley Sell with the CD leg...