GBPUSD still in my GOLDEN FIBO RETRACEMENT zone. waiting for how the price will react in the zone.
i still look for long until at around the blue horizontal line which in HNS daily if you can notice it.
Nice Head and Shoulders off the bearish 200 Day. Should it break below the neckline, we could have a great short here...
Oil has also been pretty correlated with the stock market, so this could be a pretty good indicator for a continued pullback in an overextended market.
Inverted head and shoulder pattern.
Previous LH was broken with momentum, signs of Bullish sentiment.
Price retraced and making new LH that significantly higher than LL (head).
Right Shoulder pattern = lower bounce, that ready for breakout neck line.
Entry at neckline breakout.
RRR: 4R possible / Next BRN - 1.2000
HELLO, here is the analysis of this pair. Share your thoughts with me in the comments section below.
What we have here is the clear area of resistance on 1D TF, in addition to that we have the formation of HnS which highly suggest we have good probabilities to the downside.
Classic chart pattern formed, these are my observations on the chart.
Possibilities of short with good bear mood sentiment
i look for swing short
structure bias towards bearish as market unable to make new HH.
breaking lower TL + neckline confirms bear jump thru the window.
please bear, don't wear parachute.
Looking for long entry once price break NECK Line.
Price also made a clean swing point (2 points) which coincides to make an inverted HNS.
Bearish sentiment is exhausting, evident when:
1. No new LL, instead HL.
2. Bearish candles smaller.
Best Entry: Neckline Inverted HNS
Please leave your comment for improve my weekly analysis.
ATTENTION THIS ANALYSIS FOR MY EDUCATION ONLY NO SIGNAL PROVIDE.
This is My analisis for pair EURUSD for next week 13 - 17 JULY 2020
BlackLine = Daily Trend
Red Line = PRICE ACTION Line
Purple Line = Resistance / Supply Zone
Blue Line = Support / Demand Zone
Can EU make HNS or make new HH ? Wait for price action..
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H&S pattern now appearing on this chart at a 161.8% Fibonacci extension coming from the Gartley pattern and the last post shared on this pair. Make sure to check out the related idea to see this idea.
RSI regular divergences can also be spotted. Break of the support neckline indicates a shift in momentum. If price break and re-test the neckline I will add more...