I just want to warn you that EURGBP is on strong structure.
On H4 we have already got H4 reversal bar + divergence and some fibonacci extensions (agressive entry)
Otherwise everything is on the chart, enter a trade by your plan! :)
Everything is on chart. It looks very promising but we must understand that we are in weekly corrective move anyway so it is counter trend setup. Otherwise everything is on chart, simple as that!
AUD/CHF has formed nice 2nd 123 setup on strong structure!
Reasons for short are on chart, While writing this idea price already droped quiet a while...So you might have late entry... For engulfing pinbar you should check it by yourself because on this idea chart is not visible so much!
Stop loss is set to 1.5 ATR.
1st take profit is set to retest
2nd one to FE...
Gold is slowly reaching strong support line and i am expecting for little bit bigger correction to the upside! If zone 1000$ will be ignored next probably even stronger support is around 700$ (about that next time):
Why this is strong PRZ (potential reversal zone)?
- Strong structure
- 1000$ round psychological number
- Fibonacci retracement 78.6
Classic 123 or ABC setup on CADJPY!
Firstly price formed nice channel which was broken recently. Also there was a trendline break which even add strenght to the breakout. Now simply wait for price to come back to the (support structure of the channel) which will now become resistance. You can also draw Fibonacci retracment (50 - 61). Wait for reversal candle...
Gold just broke descending triangle last week. Personaly i expect retracment back to the triangle because there was nice bullish friday D1 candle pattern. After bounce from triangle i expect that price will turn to the upside in 1000$ zone...
Otherwise there are few other zones where to buy gold :
1. Around 1000$ as i said
2. Around 850$ (check chart)
1. Major trend is bearish
2. We got break of triangle with nice forming 123 or ABC pattern (LL->LH->LL...)
3. 3rd touch of resistance trend line gives even more confidence.
4. Price is currently sitting on structure from previus swing low (support became resistance)
5. We also have fibonacci retracment 50%
Enter on D1 waiting for pin bar, engulfing or any candle...
USDCAD is currently sitting on Monthly resistance and i personaly expect bigger bounce to the downside because of very strong structure, BUT MN1, W1 and D1 doesnt look like it will reverse. We just got W1 123 and looks like it just started to moving to the upside. Anyway i draw both scenarios how to get involved in this trade conservative, but be carefull with...