GBPUSD Price is testing an important zone if U.K has hung parliament price can drop all the way down to 1.24
Looking to short this pair as it is in my sell zone now. We have had a fantastic few weeks of trading now! 3 of our past 4 trades have hit our take profit and 1 hit our stop loss which was at the entry point. RISK FREE Trade safe and good luck! Update on previous trades: AUDCAD - take profit reached
Although I prefer trading the shorter time frames like 1d, 4h, and 1h - it always helps to know the overall situation. AUDCAD has been ranging between 1.0350 and 0.9170 for many years now on the weekly chart, and on the time frames I just mentioned, this provides opportunities to trade the trend up and down to and from the zones above. So I mapped out the most...
This Bearish Bat have to many things already alignment for a bearish purpose.
Bearish Gartley in progress already activated now at level 1 consolidation. Expect up move and back in bearish trend. Price at important fib level. Trading in between the two zones established. Target and Stops around the zones
As you can see my first uj chart is a bit messed up with a misleading support resist line, but now i made it better for this week i believe it should come down to one of these lines and shoot back up to refill the gap. Will it be tomorrow? The following day?! Lets see how it will move in the future
watch this zones for an entry according with your strategy.
Testing the Trendline and the 50.00% Fib and as you can see it's forming HL on the 4h chart. Watching how market behaves the next hours and if it doesn't break => Long position
Another example on how to read structure with the "Levels and Zones"
If you are using my instruments this would be a good point to take a sell.
Although deep down somewhere I knew that I was supposed to use zones instead of clear-cut lines for S/R, I just remembered. Up until this moment for the last year, I've been incorrectly plotting support and resistance. Figured that I would try it out on a weekly chart of CHFJPY. I started from the Daily TF and then went to Weekly because I wanted the complete...
We just put in a double top on the daily bar at 79. We are also at the top of the range inside a daily supply zone. Looking for price to explode to the downside.
USDCAD already topped and is headed back down to the daily trend line (support) of the 1.2920 area. Since the top, the pair had a pullback to the resistance of the 1.3186 area and the 50% retracement and the resistance trend line, this is all confluence. Next, the 1.27 fib extension is near the zone of a support sot here is probable reason for another retracement...
I'm looking at the downtrend to continue as PA is confirming down off a daily supply ( resistance zone). could also be a nice place to form a trendline area in the future.https://www.tradingview.com/x/zv7pHFeh/