GBP/CHF currently form a 3 pinbars together, show how much effort it wants to go down.
I already have a Short at 1.32946, and the profit is huge, because for me this maybe the beginning of a huge downtrend, follow by thousands pips.
Wish you trade safe and sound!
First, let me show you AUD/USD chart:
Although AUD fas fallen in the past few days, but yesterday it has carved a pin bar really nice at resistance 0.700
Now look at GBP/AUD chart:
A nice down trendline follow with a pin bar at top.
Can this be the beginning of a huge downtrend back to 1.729 (More than a THOUSAND...
We see with you that there was a true breakdown of a symmetrical triangle, the price broke through it, and met a strong level of resistance.
I think now the price is gaining new power to continue the growth of the price, with a more powerful momentum. Next week we should see this.
Also, I can see that a pinball formed on the border of the triangle.
23751 - 23267 is the key support area.
A long tailed bullish pin can be spotted on Daily chart rejecting from the key support area.
Main concern is that my Stop Loss size is very large (662 pips), will definitely trail my Stop Loss when price goes in my favour.
Entry : 23962
TP : 24955
** This is not a Buy/Sell recommendation **
The UsdJpy break and closed above the trend-line resistance on 28th of March.
The price has retraced since then and retested the trend-line which act as a support now. The UsdYen got pushed higher yesterday but it did not provide me with a good signal to go Long.
Fortunately, the UsdYen dropped again just now and a well-defined Pin bar can be spotted on the...