Sell stop placed on EURNZD. Price has formed a double top at a key area of resistance. currently forming a small ascending channel. If price breaks this to the downside, I will be entered into the trade.
Price has started to form a triple bottom on GBPUSD. Another confluence for the long trade is that price has broken and closed a descending wedge on the 1H. Waiting for entry into a long up to the neckline.
Price has formed a head and shoulders patter on the 1H. The head rejected a strong resistance level therefor bearish momentum might follow. Price broke the neckline and has now retested the area.
EURJPY: We are in an overall bearish trend, so I have been favouring the short trade all week. Last week price hit strong resistance and price started to fall. We can see from week open yesterday that price broke the ascending channel & managed to also break a horizontal support area. I have opened two trades on this pair, one is longer term and the other...
Price has reach a strong resistant level. I'm currently waiting on an exact entry but I think if price crosses the ascending counter trendline, along with a bullish candle stick confirmation i'll be taking this one short right to the bottom.
Price is overall in a bearish trend. Price has broken and re-tested a horizontal support/resistance level and started to form a pennant. If price breaks this pennant to the downside I will be going short down to the monthly support level.
Price has broken the ascending channel support. Looking for a re-test of the overall larger descending bearish channel.
Closely monitoring GBPUSD for a potential long. Price broke the descending wedge last week. It is not approaching a retest of the trendline and a horizontal resistance level. If FIB is taken from the previous swing low to high, price might also reject the resistance around the 0.5 FIB level. Let me know what your plans are for this pair!
break and re-test of counter trendline, around 0.5% fib level. Crossing of SMMA and EMA on the 4H.
This has started to play out as I forecasted. Price has broke the descending channel to the upside. If you look at the 1H chart, you can see that price has been rejected from a previous resistance now turned support level, i'm taking this as the re-test and bullish momentum from here on out. Not my typical risk reward set up with only 1.5% but I'm using a bigger...
Im going short on EURUSD. Crossing of counter trendline on the daily in an overall bearish moving market. Head and shoulders pattern is also another confluence here.
Price has been bullish following the exit of the pennant. Price looks to of broken a strong resistance line, i'm waiting for a re-test of this level and then looking long to test previous highs.
It seems like the bulls are in play following up beat CBI and Net borrowing data in the UK. Price has finally broken the descending channel resistance and closed beyond the horizontal resistance it was struggling to break. A re-test of the resistance is always likely, but I missed too many trades this week waiting for a re-test that never came, so I'm getting...
Even though I would agree we are still in an overall bearish trend. Price has begun to stall at a support level, which previously acted as resistance on the Daily chart. This level also coincides with the 0.5 FIB level. Target placed below previous high to take into account the overall bearish momentum. Let me know what you think!
Looking at the 4H chart, there is a small descending channel. Price is currently testing a key area of demand whilst also coming close to a bigger ascending trendline. If price is rejected from the support area and manages to break the descending channel then the pair is looking very bullish.
Head and shoulders pattern formed on FX:AUDUSD . If price breaks through the neckline, I'll be looking to take a short trade.
Quick video for everyone, I know the sound quality isn't great but I am just waiting to set up my new mic. Waiting for a re-test of the significant support line and looking long. Let me know what you think!
Hello all, It's clear to see that price has formed a pennant on the daily chart for GBPUSD. I will be watching closely for a break and re-test of the pennant trendline before entering short or long, currently neutral for this pair. I will update whenever the move happens. Definitely one to keep on your watchlist.