The weekly long term trendline on this pair has been broken and a potential long opportunity is setting up. I am currently waiting for the channel that is forming on the 4 hour chart to break and retest the 50 EMA on 4 hr chart. Stay tuned for any updates! However i will only take this trade when i exit my other active USD position. I do not want to risk my...
GBPAUD SHORT term(if the trendline break) Wait good breakout confirmation before short
Waiting for daily candle to close above TL and price to retest to enter long.
the pair has retraced back up to resistance, looking for confirmations for shorts
Price formed inverted H&S red trendline has been rejected a few times break of it is a good indicator of upwards movement retest may happen, thats the safest way to enter
Bears remain in control, a correction is possible and then bearish continuation
price broke the trend line clearly possible retracements to 1.055 areas if price retraces to test it, long trade in play price most likely to race to 1.085 (TP1)
Greetings my comrades!~ My initial entry on a regular pullback has somewhat evolved into a Flag Pattern! No matter, its still a bullish pattern! Using the 161.8 and 261.8 Fib level, I found two possible TPs that you can use! I'm personally going aggressive on this one since the confluence favors it, but I'm still keeping my risk small Good luck trading my friends!
Here is a very simple trade setup on EURCAD.