GBPUSD broke the trendline so we can expect move downside soon. This break could lead to some nice number of pips. But wait for close below 38.2% fib before sell.
Good luck
After a sharp recent rise, I'm seeing multiple indications of selling taking place, possible leading to a move down to the 84 area or lower. Obviously, this is negated by a push upwards towards 89.
Impressive rejection from 1.00 which has been a key zone and some room to the downside on the daily.
Needs to clear 200 MA and 99.00, targets around red lines.
Could fake and push back up for another crack at 1.00 , the trend is bullish
Adding to my short position from my previous NZDCHF post
Adding based off the red trend line bounce and the potential double top formation in the green rectangle
Target zone is still the white rectangle zone at the bottom at the end of the AB=CD move (black lines)
MACD bearish divergence is displayed with the contrasting red and green trend lines
Hello traders! We have been following this pair for a long time now and it has been trending quite nicely for us. The overall direction of this trend is clearly to the downside and we have been riding that trend down taking multiple successful shorting opportunities along the way. Recently however we had a significant pullback that actually acted as a short term...
Sunday morning traders!
For Monday there is a very nice shorting opportunity on FX_IDC:EURJMD
There is a very nice structure resist zone with the confluence of fibs -38.2-50.0. If you look left we see these key levels, which are our reversal zone and price is more likely to fall down until 133.67 for target 1 and 133.15 for target 2. Lets see what the price does...
Bat patterns need:
.382 or .500 XB leg (we have a .382)
.382 or .886 AC leg (we're just shy of .886)
1.618 or 2.618 BD leg (we're just shy of 2.618)
.886 XD leg
This looks like a bat pattern to me. Since XA is a .382 retracement and we have a strong bearish trend, I think the .618 is a good TP1 and the 1.272 is a good TP2. Stops above X.
