It appears that all of the stars are aligning with this pair.
- bearish channel has been respected.
- 618 retracement has been respected.
- major resistance.
- hanging man candle formation.
- 127 extension targets align for impulse legs 2 & 3.
- targets align with previous major structure.
I am anticipating this to be less than simple as it's such an obvious...
Ok here's a sneak peak out a trade I have on for all of my Syndicate clients. It's a simple trend continuation trade. GBPCHF is back up against daily support and we'll see if we can pop back up into resistance. If you want to join me each morning you can do so here: promos.tradeempowered.com
We have quite good trend continuation opportunity, hour candle was closed below 11.500 which seems to be key level. When we look at D leg, we can see 3 harmonic moves, that gives some indication similar to 3drive that we are on edge. I believe that Greece news were already implemented on chart, RSI is quite high so we might see some pullback.
In order for the bulls to prove their case, they must convincingly break above the uppermost resistance outlined on the chart. A stable move over $300 would be an indication that the bull trend would continue. Barring that, the prevailing trend is still down and it appears that it is going to play out as I suspected and indicated in my earlier ideas in which I...
price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
My previous post related to Silver is linked here. At first we saw the decline below major multi year support.
We then saw establishment of support at 17.326 where for a few days we experienced consolidation with a declining series of high's before last night, where we experienced another drop into the early hours of the asian session.
My positions that were...
GBP/AUD 4H Trend continuation setup (short)
We can see price making lower low (new structure low) and that signals contiunation of the trend.
Major daily structure is way lower and that tells us that price will drop down lower to that structure and retest it.
PRZ is quiet large and i would take it at the top of it because of risk:rward ratio. If price will not...
