NZDUSD, has been on a constant ascending channel since Sept. We can see how price has reacted to upper TL structure. Price broke above structure correctively, leading many to believe that this bullish run will continue, however, the impulsive move we just had that broke out of the ascending channel leads me to believe that a bearish run will begin. Great RR for...
The bears have been in the driver seat since August if this year. The way structure is lining up, it seems that the bulls will finally begin to take over. Here are 2 possible scenarios;
1. Inner structure seems to be forming a bullish wedge, a sign of bullish momentum building. Waiting to see how price reacts to 3rd touch to determine to enter or not, since this...
Expecting a DB on higher tf. Broke out of bullish channel on lower TF impulsively, and we are currently in a correction on 15m TF. Taking advantage of 1st correction since it has the highest probability of breaking out impulsively. After short is completed to 0.61950, will be looking for longer term buys.
EURUSD has been slowly correcting down to a larger fib that is at play, which is the 78 Fib. What leads me to believe that this is at play is how it is moving down and that fact that it is in correlation with a bullish channel.
Many traders may see a triple bottom on the Daily tf, expecting this to finally take off, however, we have to remember a key element,...
Looking at the daily tf, we can see a 3 touch of the upper TL. Looking at the previous corrective nature that we had before the impulsive move between, 8-21 July, CJ seems to be acting the SAME EXACT WAY. Before the impulsive move, we had a very slow correction down, and another short correction up before breaking to the downside.
My inner structure is in...
USDCAD is currently pushing to the upside, reacting to to 61 fin extension on higher bfs. TP is in confluence with with 2 overall structures of the 3rd touch. looking for 300+ pip move once ABCD is completed.
UJ has been in a very corrective phase since mid Aug. measuring the previous impulsive leg, it is in perfect confluence with my M key level and tp. Not convinced it is headed down just yet, since there is a very corrective phase currently happening on the 15M
- 1,2, 3 drive , with touch of TL for 3rd time.
- the drive is in confluence with 78 Fib extension.
- multiple rejection wicks to the upside on 30 min tf.
- bullish corrective flag forming on 15 min tf, expecting an impulsive move.
RR is worth it, even though you barely trade pound pairs.