The cross area between all the trendlines in my opinion could offer a nice long entry with a stop loss below the blue horizontal line and a first target at the 131 area. I am still waiting for price to unfold and see the closes of the candles. Good luck!
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A confluence of Fibonacci and support line around a harmonic pattern spells a long opportunity. The price may try to reach a Fibonacci level of 127.2% at 85.76 but fail since it is seriously oversold. For those who can't wait for the formation to complete as indicated on the chart, wait for at least 87.5 to break set stop a few pips below 85.76
Price on the daily perspective has been capped within a symmetrical triangle for just over a month. Price is currently coming to the very end of the triangle and could potentially break to the upside or downside, giving two different scenarios for trading opportunity. In the case of a break to the upside: it is ideal to wait for a break of the resistance level...
My daily outlook on GBPCAD is bearish, but I see one more bounce occurring before bearish PA continues. A bullish shark will potentially be completing at point 4 in a parallel channel. Traders who are short this pair, like myself, may think about taking profit in the PRZ and re-entering after this move is completed. Alternatively, this may be traded as a...
As you can see EURUSD has 2 channels to play in on the monthly chart, wich means on lower timeframe charts it still has potential to touch the lowest monthly channel as seen in my 4Hr published idea. If you look at my RSI in the past you see this similar bounces occure. EURUSD might be heading slowly for a Monthly retracement move to the upside after wich it...
Context: this pair is ranegbound with support @118.600 and resistance @120.400 , the actual rejection of res. brought us near support again but still price resulted in a higher low the induced rallie however got rejected @120.140 and formed a lower high , we stay in this range till we left that range for good ;) till then selling and buying at the extremes is...
Context: after a strong rallie price broke a major supplyline, but found resistance @1.555x the correction resulting in that , brought us near the 50% retracement of the rallie, where price now makes another attempt to tackle the resistance level, price formed somewhat near the recent high an indecsion but it resoloved itself to the upside , which is a sign of...
Context: After the strong rallie attempt we failed to takeout the recent high on a 2nd attempt (0.8070) and formed a lower high price then retraced somewhat back to the broken resistance , which now holds some minor support, as we formed a higher low, we nolw have evidence of indecision at hands, and the future course of the market will be decided on how that...
Context: After a nice rallie , we rejected a former middlepoint @1.135x , price tunred down and broke a demandline formed a indecsion and cleared it to the downside , we have found some minor support @1.1135 , if that level fails to hold we head back to test the broken resistance @10200 signs of strength: uptrend broken resistance signs of weakness:...
EURUSD has potentially completed the wave 5 of the Flat correction on the higher degree time frame which is Wave IV correction. What this means is that the down trend resumes for the EURUSD and would break the previous lows. USDOLLAR Index is also showing the same chart patterns of Expanded Flat correction giving confirmations. One can go short on this pair with...
Update on last published chart (see bellow)
GBP/USD Pair is looking bearish. That's why I still looking for short postion in this pair. 1.4980 - 1.5010 zone is behaive lika a strong resistance for this pair and 1.4850-1.4840 zone is behaive like as strong support for this pair. If break this pair I hope our next target is 1.4698 level, 1.46330 level and 1.44890 level. I hope this pair touch those level. We...
In H1 TF I found a nice Acending Triangle Pattern, if break this triangle, I think this pair may be go to 1.30 level which is very strong resistance. And this pair is also in uptrend mode. We looking for Long position after break this above resistance line of triangle or after retrece from this resistance line. And put stop loss near swing low point of this pair....
Eur/Jpy pair found nice triangle and in H4 and D1 timeframe 50, 100 and 200 EMA is above the market price which indicate this market is still downward mode. That's why I think, this pair triangle may be break in downward mode. So, we can look for short postion in this pair. So, keep eye's on this pair and don't forget to press like button. Happy Trading !!!
The downtrend is not over. I expect a drop down to the last lows to form a real bottom before we can return to the mean. For more detail please look at my zoomed in version of this chart: