Price has formed a double top pattern right
at the resistance area.
It got rejected and moved to the downside
breaking down the upward channel as well.
Will definitely be looking for the price to pullback higher on
Monday and wait for confirmation before entering a
SHORT position for a continuation move to the downside!
Price was rejected at the major resistance
area and move to the downside impulsively!
The price bounced off a support level on the 4-hour time frame,
seems like it wants to retest the area that was broken down.
This will be the area to pay attention to,
as this could be potential head & shoulder pattern forming.
Looking for rejection at this level,
Seems like the price is finally breaking out from
this descending channel that is forming for the past few weeks
and also formed a double bottom pattern here.
Just want this candle to close outside the
channel on the 4-hour timeframe for confirmation.
If the confirmation is given, will be looking for a quick pullback for entry!
As the price for EURCAD develops further,
it is clearer now to see that a flag-like pattern is forming.
The ideal entry would be for it to come down slightly
more to re-test the trendline support and
then bounces from here!
Price for NZDJPY has been in a rising wedge pattern
for the past few days which is bearish and
it is approaching a major resistance soon as well.
Will be paying attention to this pair closely
from now onwards looking for more confirmations for a SHORT
Price is currently forming a bullish flag pattern near the support area.
Looking for it to break to the upside!
Long entry would be placed at the support area
or when the price closed above the flag pattern (confirmation)
The analysis for EURGBP was posted 2 days ago
when I saw the head and shoulder pattern
is broken to the downside.
Looks like the price is consolidating below the
resistance level slightly longer than expected.
It should be ready to move soon.
Looking to SHORT!
Price is currently at a major resistance area and
seems like there are rejections showing right now.
As long as the price does not break above this
level impulsively, my bias remains to the downside!
Looking to SHORT!
The price of EURUSD made a nice move after the breakout
and pushed all the way up to the profit target
(check the post yesterday).
Price is facing a resistance right now and will be
waiting for the confiramtion.
Once it is confirmed will be looking for entry to SHORT it!
Price seems like it's struggling at this resistance area,
could not break higher.
This could be a potential SHORT entry here which
the 1st profit target at the trendline and
the next one at the previous low!
Price has formed a head & shoulder pattern
and breaks to the downside.
The price has been consolidating in a wedge-like
pattern for a few weeks already and its getting tighter.
It seems like its going to continue to the downside soon.
Price has moved to the upside impulsively
above the resistance yesterday!
Will be looking for the price to come back to
re-test this level that was broken yesterday.
More upside continuation is expected.
Price is breaking down this support level with strong momentum,
will be expecting more continuation to the downside!
Will be looking for the price to pullback to the level
that was broken to re-test it and that would be the ideal entry point.
Price is currently trading in a nice horizontal channel,
it seems not ready to break to either direction yet.
Rejections are already showing at the resistance area right now.
As long as it does not break to the upside, will be looking to SHORT!
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