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For most of last month USDJPY was in a wide range (consolidation ) of about 100pips
USD strengthen a little and pushed the price back into the consolidation area
But USDJPY sold below the 107.000 but a pull back upwards left a wick above the 107.000 area
The pullback was just 50%...
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The EURUSD moved a total of 300pips last month and the 300 pips was divided into 3 section, each section=100pips
1st section=movement from 1.10000-1.09000=100pips
2nd section=movement from 1.09000-1.08000=100pips
3rd section=movement from 1.08000-107000=100pips
The question is...
Price broke down from the triangular pattern and fell topics the sell was quickly reversed and buyers took over. The price went as high as 1.26475=April high and may 1st saw GBPUSD crashing downward towards the 1.24000 battle zone.
Price has bounced upward @1.24000 four times making it a sweet support.
Price has used @1.24000 as resistance
Conclusion buy above...
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The consolidation which lasted for 2 days and 8hrs has a low of @1690.80 and high @1721.94 (the small pink area is highlighting that).
Price broke the low of the consolidation which is the B leg of the ABCD pattern and fell over 200pips. The last trading day of...
Please like my idea and follow me on tradingview and share with friends it will encourage me to do more.also join my telegram group @ FBS BROKER thank you............ After the buy started from 1572.827 and ended @1747.722 which is the 1.618 extension of the move. Price fell from the 1747.722 to 1661.416 which is the 50% retracement from the move down to up....
After spending its about 6 days or more in consolidation, it finally broke and made a sweet pull back upward into the support of the consolidation. Sellers are dumping this pair like crazy USD is having a bad day and to cap it all total confirmed cases in U.S. is a million plus.
Please like and share with yiur friends.......USD is weak and covid 19 just reached 1 million confirmed casses in the US this is the time gold should go north, but instead it went down south. Technically it encountered double top after the D leg of the XABCD pattern was formed and it dived down below 1700.00. The next target will be the neck line of the double top.
Before you start to read please hit like button and share with your friends............... It started with the simple ABCD pattern at the bottom of the screen. After the pull back from D downward the uptrend continue creating another ABCD pattern and the D leg keeps find it's way up. It cleared resistance with ease notably 1.168 and 2.618 and now is trying to...
The ABCD pattern started from A@1.08672 and terminated at D@1.07558=support. Now watch how price Pulled back from the D point up to C. Price fell back towards D=support but broke it with few pips. Price reversed upward from 1.07558 to C@1.08338.
Price above 1.08338=buy then price below 1.07558=sell. Note be careful how you trade 1.07558-1.08338
After the breakout of the triangular pattern about 6 days ago. The breakout started from 1.2400 and stopped at 1.22696 but moved into 1.23000 at the closing hour of trade. From 1.22696 ABCD PATTERN was formed A@1.22696 B@1.23520 C@1.23040 D@1.24147.
From the Dfirstname.lastname@example.org proc fell to C@1.23040 and created a support at 1.23000. Also note during the last 6...
After the break from the triangular pattern GBPUSD started the ABCD pattern, where the D leg terminated at ........... and then fell back to ............The C point. Now a smaller ABCD pattern is taking place with the C point support and the D point resistance. You can open buy above D and sell below C
After a failed inverse head and shoulder, XAUUSD shows some sweet pattern. If you draw fib from the right shoulder you see XAUUSD terminating at 1.618 extension from A to B, a sweet pull back followed after the ABCD pattern, now the price has ran upwards to the 1.168 extension point again creating a double top pattern. Expect price to fall from the 1.168 fib extension