price has overextended into the highs of 0.9000 which is a key psychological level, looking closely at candlestick behaviour we see wicks rejecting the highs showing a slowdown in momentum into the regional area of 0.9000 which has several confluences acting as a resistance. Fundamentally, the strength of the sterling ahead the next couple of weeks(lowered chances...
Price has approached the key daily barrier of 1.27500. If today's candle can close as a spinning top/ Doji we can anticipate a potential short to the psych zone of 1.26000 in confluence with 61.8% fib level, to form a right shoulder before the sterling extends higher.
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.
price broke out of the ascending channel to the downside, with a significant 4HR bearish engulfing candle close below the trendline, could expect further momentum to the downside, targeting the 0.8800
Price has clearly overextended into the region of the yearly low of 135.67 which we previously tested but managed to hold, seen as this is an institutional demand zone we've had daily rejection around this region suggesting that buyers have taken profits and sellers may be looking to reverse the market, however price could consolidate around this region for a bit...
This trade setup is very simple and justifiable due to numerous confluences, the short term target is 1.26555 which is alignment with the 61.8% fib level as well as a potential right shoulder. 1.27000 proved to be a key barrier which candle couldn't close above, 4HR candle created a huge spike but then closed below to attract a potential short order with a tight...
US fundamental on CPI remained unchanged, this was a pivotal macro indicator which large investors were waiting for, sentiment, therefore, remains more at ease, from a technical perspective price tapped a key liquidity barrier however we rejected this zone with an evening star reversal pattern then a 4HR bearish engulfing candle closing below a minor trendline...
price could tap the dynamic resistance $1342.93 and have wicks rejecting that zone before price reverses and rallies to the targeted downside of $1320.00
price is approaching that liquidity/ institutional area of supply, wait for wicks to reject this zone of $1360.00 before taking any shorts, many retail traders were probably stopped out and liquidated their funds, so this could be a key reversal area.
ah sorry, I wasn't impulsive enough to give my perspective on this trade setup, but we've had a sudden move to the upside, however, we rejected a key long term trendline as our 3rd drive, also 4HR candle spiked and closed below 53.00 as a shooting star, ideally if we could get further spikes into the highlighted region we could enter for short trades to the...
Many wick rejections and 1HR candle close at the $1338.35 dynamic level, as mentioned a break below the trendline could drive prices to the 1st psychological target of $1320.00 Great risk-reward for this trade 1:4
price couldn't completely penetrate the key $0.45 price region as of yet, recent weeks price has been consistent of lower highs and lower lows suggesting that bulls have been shaken off and sellers dominance is present. Price is currently retracing to a manipulative zone, however, we could expect further downside price action towards targeted regions, ideally...
price is currently trading at the highs of $1340, an obvious head and shoulder reversal pattern has been formed, and candlestick is forming a potential C pattern at the key barrier before possibly rallying towards targeted zones of $1320 and then lower towards our D extension price region. - Risk reward is great, as usual, is 1:3
Price extended to the highs of $9000, however, was not able to sustain this level as price clearly has been trading sideways around the psychological level of $8000. With singular wicks hitting both the highs and lows, however, the head and shoulder pattern could elude to the fact that reversal may be imminent. Bear in mind that from the new monthly highs price...
if the 1HR candle closes below that wick we can wait for a retest of that trend in addition to 0.89000 being a key psychological level to consider adding an additional short entry, the price may then rally towards our targeted areas of 0.88400 first then 0.88000 apply good risk management to your trades!
price has created its 3rd drive into the highs of that dynamic resistance price region that price previously tested. IF 4HR candle can close as a Doji suggesting indecision and potential rejection at the key trendline we could see price form a new higher low? and correct to the 1.82000 level (61.8% retracement zone) before accumulating buying orders to break the...
price has rejected the 96.50 zones with 4HR candle wicks, price is showing momentum to the upside to form a potential new lower high, if price rejects the key trendline a new lower low could be formed towards the 96.00 key level, however, if the trendline is broken a deeper retracement could be formed towards the highlighted region before price rallies to the downside.
If weekly candle rejects key daily support of 1.81000 formed by our previous swing low with a Doji candle suggesting indecisive behaviour.It is likely that price could reverse if the price breaks the trendline with a bullish engulfing candle, targets of 1.85000 being a psychological level also in confluence with 61.8% fib level. More importantly, key fundamentals...