Failed to make new highs, shorting now on this level.
A good breakout has several elements. Lower highs are currently being produced, and we're looking for more touches to define the level better and attract more players in (who will set stops below the price for the break).
Short term resistance. LT Downtrend, MT downtrend. Pullback is still weak. I'm adding this position on top of my existing running position, in the related ideas.
Failed breakout, now bouncing off the top of the range.
2-1 R-R ratio here. Role reversal level. ST downtrend. Pinbar + broken pinbar after.
EURGBP is hovering in a tight range right now. This makes things very interesting. i am very interested to see which direction the breakout will move.
Should be breakout of the level, we are open to a lot of downside on this pair - which would offer a high r-r ratio. Ideally, we are looking for a breakout-retest of the key level drawn to get short.
This is one of my current positions. The level is visible on the daily, and not too aggressive. Sellers have clearly stepped in on this level, forming a strong 2-bar reversal signal. I consider this a B trade as the risk-reward ratio is only 2.24.
The pair has made good gains with higher lows recently. Currently, it sits at a notable level on the 4H. However, I do not wish to enter a position here as the level is too aggressive and there is a large breakout possibility on this pair, factoring in the higher lows and pace at which it is rising. Pullbacks to the 1.1 level should be sold though. Especially...
Since this trade offers up to potentially a >7 Risk/Reward, it is worth taking. However, the probability is not high of the trade working due to some factors. The level has held for 22 days on 2 touches.In the short term, we have a downtrend with lower highs in place - increasing pressure on a breakout possibility. As well, the probability of this trade is...
Bulls have been stagnating in the past day at this level, forming a strong daily pin-bar on the level. While I am not interested in taking positions on the GBPJPY pair, I will note that this communicates to us that GBP may be bearish soon vs the JPY as more bullish. A breakout is definitely possible, but the long term uptrend still is in place.
The pair has just formed its first bullish candle in the impulsive series of bear candles. It is a weak candle. The position should should not be closed here, as the R-R would be 1.4~ which throws off my risk of ruin. I am interested in adding onto this position, however. Especially weak corrective moves.
Since the short isn't worth it at the moment, we look for signs that bears are stepping into the level. If it shows signs, maybe we will short.
Breakout from before, looking to enter at role reversal.