Today marks the first day of a sideways movement, although with a slight downward bias. ============================================================== If we see a good pin bar in end of day tomorrow from the 8-21 ema area then a long position may be possible. My interest in this pair is minimal though until I see some blazingly good action like the last few weeks.
A pin down through the bottom bound of the strong support from a really good touch on the 8-21 ema area. ============================================================== Nothing broke previous day candles, so other than the movement from the 8-21 ema area nothing really still worth the risk.
Breaking the low of Fridays candle following a continuation inside bar yesterday we can see further losses – but not much for the pound on this pair today. Not enough of a tail to be called a pin bar, but we did a test to upside earlier. So I would not be surprised to see further downward movement. ============================================================== I...
A good move down to support keeping momentum from the continuation inside bar and previous breakdown from resistance. ============================================================== Looking for more structure around resistance, with the trend still upward. I am on the side-lines until a strong signal long appears in the form of a pin bar or consolidation false break combo.
A break of Fridays inside bar doesn't leave us with much information to work with. ============================================================== Action can still be valid if we see a false break to the 8-21 EMA areas, a good small bodied pin bar tomorrow will still be a valid signal for a long entry if there is enough distance from the high of Tuesday candle and...
Moderate action today leading to an inside bar after a rotation from previous build up to resistance. ============================================================== Waiting for a retrace of Monday's candle would allow for a greater entry, however with Thursdays and Fridays momentum a signal for continuation like this might not see much of a retrace. Target is a...
Unclear information given to us today as an inside bar closed back inside the previous bound area. If we had a small inside bar with minimal ingress back into the zone then I would be tempted to take it as a continuation of the previous downside movement. ============================================================== I am not tempted to risk my money yet because...
Consolidation has led to an inside bar close inside the 8-21 EMA area. With trend still maintaining upward this isn't a good signal for a continuation down. ============================================================== Will be looking for more price action, perhaps a deep false break below the 21 EMA and perhaps to support which we may see because of the Weekly...
A predictable inside bar after previous days movements. ============================================================== With the trend still on the upside I am looking for a pin bar tomorrow signalling a long. If price action breaks down further below and establishes a foothold near or below the support then I will do nothing until new lows are formed and maintained.
The down trend still strong after a 13 day retrace and strong 5 day rejection at resistance. It is also keen to note a nice rejection off of the 8-21ema today as well. ============================================================== I will take shorts upon valid price action. Earliest signal option will be Monday NY Close. On Monday: Inside bar or pin bar from...
A further inside bar is an interesting formation for today. We may see more upside action toward resistance early next week and a short-term reversal after a rejection leading to more possibly more long opportunities by Friday. ============================================================== Any entry long at the high of Thursdays candle at this point would not...
A close outside support of this 2 month long sideways action. ============================================================== I will be looking for new structure below this support for the next week before signals start to make sense.
A strong rejection at resistance after a day of consolidation/inactivity signalling exits for existing long entries. ============================================================== The up side trend still remains intact and I will be looking for any upside signals at the next support unless price breaks down below support and continues to make new lows toward the...
With the trend still intact a bounce from near 21 day ema may create more opportunity to take a long. However we must be aware of a very neat pin bar now formed for this week that may encourage more movement below the 8-21 ema areas. Be mindful of potential downside early next week. ============================================================== On Monday close...