D1 : Chart forming Bearish Expanding Triangle (search Google for more info)
Today Price comeback to the red zone after failed continuing Triangle chart pattern, where this price level in this week become DBR (Drop Base Rally) Demand.
GBPUSD would be back to 1.32800 only if price can escape from Red Zone and breaks price level of 1.30500-1.30800.
1. As you can see in my chart analysis, support/resistance line (red line) forming downtrend where price now is in the bottom of resistance line.
Most logical, price should go down.
2. D1 : Price is coming from downside and currently chart perfectly in the bottom of EMA-55
Indicates, price is still in downtrend.
(I'm using Fibo...
After failed forming Rising Wedges and breaking support line, now EURUSD gonna continuing long-term downtrend.
But after re-check the condition, i think this pair very possible to forming Head & Shoulders.
GBPJPY still in strong downtrend and gonna go to the lowest price before bounced to the middle of big sideways chart pattern.
Better if you wait only for long trading.
Selling on this condition is very risky.
Monthly & weekly timeframe : price is below the EMA-50 and chart has broken the previous lowest price.
D1 : bounced from double strong resistance.
H4 : Now, price wanna re-test resistance line. If bounced, it must be a good news.
if you have other ideas, please comments.
in the daily timeframe, recently this pair fell down and approaching EMA-50.
in H4 recently very clear chart made a rejection and look like tries to forming a Falling Wedge with a steep angle.
later, If the line of middle top support/resistance is broken, that must be a new signal for sell.
H1 : Major trend currently forming Rising Wedge. But for short-term is forming Falling Wedge. Indicated potencially to rise any further for completing Rising Wedge form on Major Trend.
If You have another idea, please help me via comments.