Following EURJPY make great moves in the last 24 hours, I am looking for the pair to head higher
The pair have now retraced to dynamic support which was resistance. (in the down trend on the left picture)
On the right picture I have dropped down to alower time frame to show where I would be looking to enter if it starts to cycle higher and a bullish...
Strength in the chart:
1. Bullish signal
2. Testing the gap
3. Line Change with volume
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
The counter was in a consolidation mode after a steep downfall.
It consolidated in a triangle wave and has now broken out of the formation with an impulse candle.
Hence, we expect the pair to head south from here.
price is testing the 137.00 4HR intraday area of resistance created by previous swing high if this area is sustained, seen by the spinning top which was formed on the 1Hr candle, we could pull back and retest the Weekly trendline, this is also in confluence with the 4hr trendline acting as support, then we can expect a more imminent drive towards the 138.00 key level.
The fed has conveyed its intentions, so the bulls are in full form in the counter.
The pair has just completed its one full bull and bear cycle, which we expect it to be a 1-2 wave.
Third wave which is the longest among the cycle of the waves has commenced and we expect it to clear the high of 1.13400 and navigate further.
Hence, we maintain a bullish view on the...
I wanted to post what I was looking at, any feedback is welcome and encouraged.
I believe that this has a high chance of playing out to at least 9962
Let's see how this goes..
Please drop a like if you got any value from this or if you agree with my view.
I am looking to get in to GBPUSD
With a weakening USD and GBP gaining strength dependant on sentimental short term views, i think that price will retrace today back into the 50% to 61.8% area of the Fibonacci region highlighted within the picture.
Price could carry on or only retrace back to 38% area, however we will look for buy signals at these...
Quasimodo Level after MACD Divergence and Pinbar Pattern in GBP/JPY
Today, this GBP/JPY pair is in a downtrend of almost 1000 pips and is still considered bearish.
Yesterday’s 1D chart, the candle has ended as a Pinbar pattern. The Pinbar candlestick pattern is a reversal pattern and is a very reliable pattern to use amongst forex traders.
In this 1D chart,...
price is retracing into the key 61.8% retracement zone, forming its right shoulder as a head and shoulder reversal pattern, the previous day we created pin bar as the price is currently trading at yearly lows, we could expect some of form of momentum picked up towards the highs.. attention will be towards FED announcement, a dovish sentiment could boost momentum...