The Market has been trending down for quiet a while,however I think price will hiccup at our major structure level which confluences with an AB=CD pattern and a 1.618 fibonacci extension.I will be going long on this one,all I need is a double bottom and a higher high higher close candle and I'm in.
Now that price came to our major structure levels on the daily we seem to be having a hold.This indicates a potential buy for as confirmations of double bottom,higher high higher close and pullback have occured I'm entering next bar market on this one.
Waiting for deep pullback around 0.7650's levels which we have a confluence of fibonacci 1.414 extension,0.618 retracement,AB=CD pattern and major structure on the higher time-frame.If price does eventually get to those structure levels then the last thing to look out for is a double-top and a lower-low lower-close with a bearish divergence for an entry in this...
Had a clear higher high higher close on the daily and a nice pullback into structure.I'm expecting price to holt at our previous support,I have a 5.0 fib retracement and a 1.414 fib extension lining up at a level which was our previous support.
I'm expecting buying pressure to be present as soon as price retraces back to our previous resistance,I see a confluence of an AB=CD move terminating at 1.5800 with a 1.272 fib extension and a 0.618 retracement exactly at that level.
Price formed a double top and a lower low lower close indicating a bearish move ahead,now that price has retraced Have entered short for an extension at the nearest support levels.First Take profit will be at our current support levels,that's where I'll be taking half of my profits and let the trade run to our secondary target levels.
I am looking for the market to got my 0.618 retracement level for another buying opportunity since the market currently is overextended on the stochastic indicator.Will it go to our retracement level before it continues up?,we'll have to see but if it does go there i'll adapt to the market to see whether price behaves like buyers want to get in at that level of entry.