The 4 Hour shows a shooting star candle and the 8 hour also looks very convincing this will be a short term sell off. I enter the trade based on a pitchfork drawn on the 5 minute chart to set my risk reward to a pretty good 1:3.4 Good trading all this week!
EURGBP made quite a move down last month and this month. It's now on the edge of the pitchfork channel, 12 hour candles show possible signs of reversal. Get in with a tight SL and ride the first moves up for good RR. Good luck trading!
Price looks to bounce off major Support zone and eventually move back into the pitchfork channel. Short term movement also indicate upwards momentum. Likely meaning the USD fundamental data is good. At around 7:30pm (GMT+7) when news hits, this should boost this pair up a bit. Be careful for the possible volatile swings though (always unpredictable!) Good...
Massive sell off move just occurred, the 12 hour candle will close with quite a long wick that would indicate further down movement. It's likely to go towards the median. Enter with a tight stop for a good RR of 1:8. Protect potential losses if it does decide to swing up again at intermediate SR zones. Good trading!
12 hour candles all look in the green ready to move up further. Make sure to protect entry point if it does decide to make a big swing. Comments or idea's, let me know! Good trading!
Price has to break through tough resistance, third bounce is likely to break through. There are two strong buying rejection candles shown on the 12 hour. Confirmation of this SR break if price makes that higher high past the SR zone. Go long for a 1:2.2 RR trade. Good trading all!
There's a good amount of room to the left and price is moving around a major SR zone. If we get a lower low, open a short trade that's good for 1:2.5 RR
The 12 hour bar is painting a nice buying rejection pinbar at the moment, if price makes that lower low. Enter for a short with a possible RR of 1:3.7. Beware of the intermediate SR zones where price could potentially turn. Comments or idea's, let me know. Good trading!
Price is at a major SR zone and there's a lot of space to the left. Reversal to mean is highly probable. Go short till next SR Zone for a good 1:2.7 RR trade.
The bearish trend from last week can continue if there's a break of SR thus confirming the downward channel. Price can move all the way to the next major SR zone at around 1.122 level. Enter as indicated to get a good 1:3.2 RR ratio trade. Comments, idea's, let me know below :) Good trading this week!
Preceeding trend is strong bearish. When this retracement finishes and price moves down to make a lower low, there's a good short trade here with an 1:2.8 RR till the next SR zone.
The 12 hour candle at the moment shows significant buying rejection coupled with a convincing selling run behind it. It looks like it will continue the sell run all the way down to the major SR zone around 1.41 If price makes that lower low, enter this trade for a good 1:2.8 RR trade Idea's, comments, let me know below! Thanks for reading and good trading :)
General trend has been bearish for many months. The pitchfork indicates the trend and the mean of this trend (the red line). The mean is where price is likely to reverse towards. At the moment it's moving around a strong SR zone (a channel and SR zone as indicated by the blue horizontal line). When it does start making lower lows, there's a good entry here for a...
Move to the median is very likely, furthermore if it breaks this SR zone with lower lows there's a high probability for a 1:3 RR trade.
Since december moving up steadily and in the upper half of the pitchfork since beginning this year. It's likely it will bounce off the major SR zone around 0.777 - 0.78. Let's see next week how this develops. Comments or idea's, let me know below. Thanks for reading :).
The main trend on the daily chart has a bearish bias as shown by the pitchfork setup. Price at the moment is near SR and the median parallel line, There's a high probability for a short towards the median line (in red on the left). Price needs to make clear bearish moves first. When price makes those lower lows, there's an entry possible for a 1:3.2 RR ratio...
Trade based on S/R zone. Pinkish seems being stronger, however I am not very patient guy, so splitted trade into 2 - one already entered, another is limit order. SL the same for both, TP the same as well. This way I am feeding my unpatient nature :) Hah, Forex is a great lessons of itself understanding... ;)
as on picture. have two positions, the same stop, the same TP, different entries.