- 12 hour time frame
- Long block on the 12 hour and Daily.
- Momentum on the downtrend has slowed and is now creating support off the block and trend line.
- I do not follow news religiously but BREXIT appears to be happening which would strengthen the pound and NZD may be looking for a retrace as highs are being hit on many NZD pairs.
- I highlighted two...
- Bullish engulfing creating an order block
- Price currently creating support off trend
- Looking for price to hit at least 1.32000 mark before continuing up / retracing
- There is bullish USD news this week which could be our catalyst for a move upward
- SL placed below previous lows at 1.30050 / Entry at 1.30650
QRVO recently had a huge High Frequency Trader gap after a compression consolidation pattern. The stock continues to move up with Volume Weighted Average Price orders due to Smaller Funds buying after the gap.
GBPCHF 4 hour retest
- This entry coincides with the daily GBPCHF short posted before this one. Looking for a retest off the uptrend to create a downtrend move.
- There is heavy liquidity below for price to soak up and touch the uptrend line once more.
This is not a strong block but we may be looking at a possible short opportunity and test off the daily. Price may retest and break trend for an upswing
but I'm looking at taking this pair down to below the .68 level.
Waiting for momentum to slow on a high timeframe, particularly the 12 hour with a rejection around 1483-1485 and Stop Loss at 1495. Price is at a strong previous support and now may be looking for a retest around the previous pullback on the swing low.