I am expecting price to make one last push to the upside, before falling.
This push can possible create the right shoulder that I am anticipating.
A head and shoulders at the end of an uptrend can signal a reversal pattern.
This candlestick formation along with price respecting the monthly/weekly supply level, is a strong confluence.
There is a Gartley PAttern formation in the 4 hours chart of GBPJPY. The currency pair has started to reverse from point D in the pattern . It is likely to go down upto point B of the pattern, a calculated target for chart pattern. However, traders can wait for the daily closing below 133.90 before going short in the pair to confirm the downside momentum . Trade...
in this analysis we are seeing alot of things lining up for a gj short. we could see it now due to daily fractal and whole level rejection while being oversold also in the 2-2.618 fib extension 4hr zone. on the daily chart we could see more up move to the 154-156 bearish order block area which would bring us into an extreme sell off area. i am currently short. and...
We are looking for a completion of the D on this cypher pattern to come in around the 142.27. Which also provides structure to the left. With target 1 coming in at the 141.179 mark and target 2 coming in around the 140.157.
Good Evening Traders,
After an impulsive move to the downside (green arrow), price has slowly rallied up into the previous structure low. Expecting price to break out of the triangle into the 142 level. Follow my twitter: BrightForex for more ideas!
Thanks and Good Luck!