Hello Traders,
After doing top down analysis on FX:EURGBP , I have couple of key ideas that I would like to share with you guys. First of all we can see a clear rising channel (purple in color) formed on the 4 hour chart. Do notice the 2 false breakouts that we got in that channel. I only consider any level being broken only when we get a valid retest after the...
USDJPY has formed a bullish engulfing candle on the 1HR chart, indicating possible upcoming bullish movement. The candle is supported by a strong 12-month-long trendline that price has respected 3 times previously dating back to January, 2015. At the PRZ, a bullish pinbar has formed on the daily chart. The wick falls on a series of fib levels from structure...
Nice pin bar from key resistance area which was previous support.
Downtrend and 50% retracement of last down swing.
Also note that the pin bar formed as a reaction to the daily supply zone 1.09368 - 1.09842.
Retracement entry
TP 2R
B.E: at 90% of TP
Daily Pinbar on $GOOG near the 161.8 Fib extension level.
Bearish Butterfly was violated, but a close below 720$ could create a False Break signals.
R/R for bearish Pinbar scenario marked on chart
Tomer, The MarketZone
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Hello Trader,
This short trade setup on FX:NZDCAD is simply based on current price action and the key levels that are labelled on the chart above. As we can see that after every consolidation periods (yellow lines) we got breakouts in the form of strong impulse moves (blue arrows). After being in a strong impulse move for the past 4 weeks, the buyers seems to...
Price formed a double bearish pin bar from resistance on the daily chart in line with the major trend.
Entry on 50% of the PB, TP at 2R, B.E. at 90% of TP.
Longing AUDUSD on this beautiful 1 hour pinbar in obvious uptrend. Our stop is the last low. we have two strong resistance levels until then and hopefully we will continue to the upside. Risk:Reward = 1:2.
- Trade with the trend, you wouldnt try to roll a stone up a hill when you could just as well roll it downwards.
Technical Confluence:
1. Long-term bullish trend-line now acting as new resistance
2. Bearish rejection of trend-line connecting lower swing highs
3. Rejection of key 1.55 S/R level
4. Rejection of 50 EMA
5. High-Test Candle
Fundamental Confluence:
1. GBP Manufacturing PMI came in at 51.4 vs a 52.6 forecast. The UK economy is now hovering above the important...
Pin bars are strong reversal candle sticks; if the closes as a pin bar, we can go long; RSI and CCI shows that right now we are in a oversold condition and this pin bar could be a clue that a retracement is in near future. we can see CCI starts to reverse;
our first target is 23% fibo and second is 38% fibo.
A PIN BAR HAS FORMED ON THE H4 CHART. STRONG DOWN TREND ON THE DAILY CHART.
FALLING TREND LINE
TAKE PROFIT IS SET TO HALF MY POSITION AS I THINK THERE COULD BE ROOM FOR POSSIBLE FURTHER DOWNWARD MOVEMENT. STOP WOULD BE MOVED TO BREAK EVEN.
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The GER30 (DAX) formed a bullish pin bar buy signal yesterday after moving briefly below 10970 key support level. In addition we can see that this bullish pin bar almost formed at the bottom line of a channel. We could see price move higher from this pin bar in the coming days. Yesterday price retraced 50% which...
TEXTBOOK SETUP. PULLBACK TO THE 38.2 FIB WHICH IS IN LINE WITH STRUCTURE LEVEL. AUD IS STILL FUNDAMENTALLY WEAK, THE CURRENCY NEEDS TO GO LOWER TO SPUR GROWTH SO PAIRING IT AGAINST THE POUND IS A HIGH PROBABILITY TRADE BECAUSE THE POUND IS THE 2ND STRONGEST CURRENCY AFTER THE DOLLAR. WE'VE HAD A TWEEZER BOTTOM AND SUPPORT FOLLOWED BY A HAMMER REJECTING OFF THIS...
