Price is showing a lot of pressure in its 140 pip consolidation range, after its previous strong bullish engulfing candle bouncing off weekly support, showing that price may be ready to reverse its trend. Watch for a clean break of daily resistance ..
Potential double top to daily resistance, now watching for a break of price's uptrend line for shorts down to daily support. Retail sales were weak as well so it could mean a pullback for the pound now
Hey traders in this video I want to revisit the EURUSD idea that I shot to you the the other day, this time with the focus being on trade management and trading psychology. Towards the end I also talk about a potential intaday trading opportunity that is setting up for anybody that missed the initial move.
Akil
After price failing to break above 1.23000, it looks like price may be looking to enter some exhaustion. Price action is getting weary, showing a bearish engulfing candle break below support, now acting as resistance. After all the bullish momentum taking place in a short amount of time, we may see a pullback back down to daily support 1.20800
Downside target reached, now watching for a breakout of the falling wedge pattern for potential longs. Price also bounced off its weekly uptrend line, which we now could see a potential strong move
Pullback just about complete, along with the inverse head & shoulders pattern I had mentioned earlier. Now price Is sitting on daily support, creating its higher low & now may be looking to form a new high & now as an uptrend.
SEE IT RETRACING TO RETOUCH THE BREAKOUT ZONE BECAUSE OF DIVERGENCE SHOWING UP ON A HIGH LEVEL RESISTANCE ZONE AFTER THAT ALL THE WAY UP...! SO MAKE SURE TO TP ON YOUR TP ZONE !!!
Price is in a tight range currently, we could see a potential breakout to the downside to retest its broken trendline, before continuing its uptrend.. Watch price once at the green zone
Nice potential short this week, double top at strong resistance. Now will be looking for a break of that trendline for potential shorts down to recent lows or a new lower low..
CPI for gbp in about 6 hours for now, im looking for a break of resistance for potential longs up to the 1.34200-1.34500 area.. Price may finally get a breakout of this range it has been moving for some time within. More confirmation needed before executing this trade!
Price made a strong move & broke above its downtrend line, now looking for entry on the retest of the 38.2%/50% fibonacci level for buy opportunities. If you take a closer look the retest could form a nice inverse H&S pattern, showing great confirmation! : )
Trade safe!
Watch for a break & retest of the downtrend line for potential longs, price closed with a strong bullish engulfing candle, & bounce off a strong weekly reversal zone, price could now be ready to change trend direction will be watching closely..
Price broke its channel to the upside, came back to retest & looks to have closed back above 89.000 Key level. CAD rate hikes this coming week we may see a strong move higher !
