I think this is the best time to trade EUR/GBP if you are a swing trader. I use multiple technical analysis to catch the best moves in the market while I am learning new trading techniques each and everyday. Today I have got these levels!
Harmonic butterfly pattern about to complete (Towards key support), Bullish flag (not completed yet), Corrective structure. If...
Price back to below resistance level where everyone expected to sell last Monday but unfortunately price spiked up!
Another example of finding good in a bad situation.
1) Cypher pattern completed (Gartley in progress)
2) We can see the double top in 4H chart, Seems like price making 5 wave move down, if that true then I will wait for price to retrace to sell...
This pair correcting previous impulse move down which ended @ 1.0000.
Also price dropping down to retest the broken down trend line which is going to be Support of previous Resistance
Have a nice trading week!
Elliot wave - This morning I figured it out this nice impulse move @ EUR/AUD pair followed by a break out and retest @ 1.4866. I started my analysis from there, Now we can see the 5 wave move down which is going to be ABC of wave 2. The question is wave 2 target? We can predict after completion of A & B.
Note : 5 Wave move down not completed yet,...
Anything could happen when it comes to trading, I will sell this pair @ 0.7836 ( 3 harmonic patterns merging towards same area which is hitting previous support & resistance level and close to channel resistance.)
Also selling zone that i mentioned here is 61.8 % retracement of previous high.
Have a nice weekend!
Everybody knows that dollar Index bullish. we want to sell all the pairs against dollar, here is my view for selling kiwi pair. I will sell this pair around 0.7944 area SL - 0.8050. If price failed to reach there I will sell (bat retracement) @ 0.7700 area SL - 0.7850. let's see how market react this levels
Almost everything @ final leg... which one you will trade and please share the idea why you trade?
So everyone can learn some new techniques
Here is my idea :
I will sell this pair between 0.7812 - 0.7839 if i get a bearish divergence in RSI.
If RSI make higher high I will wait for the price to reach @ 0.7900 to complete the Gartley
Double top formed at 1.236 Extension of AB, Previous resistance should become support between 0.96802 - 0.97191 which is 50% to 61.8 % of CD leg. If i get stopped out, I will buy @ 0.9472 (Cypher Pattern)
There is a possible butterfly pattern. Post the chart @ comment box if you find.
Waiting for a 3 wave pull back to go short @ 1.2311 - 1.2360 Stop @ 1.2568.
If I get stopped out, My next short entry @ 1.2746 which is 38.2 % Retracement of Wave 3.
Also cypher pattern will be completing same area