EurUsd had break below the rising trendline (black), shown with a strong bearish candle and fall below the monthly SnR: 1.13500 and moving average is as well crossing over at the same time. This given me a good confluence & indication of price turn to the downside & a sign of short selling.
Further details can be gain from lower timeframe of H4 & H1. with price...
FX:EURUSD Price seem rejected from the ascending channel resistance and initial support would be the Monthly RES @ 1.1350 with a 61.8% Fib Level, it gives an extra confidence for the uptrend bias. Meanwhile price also maintained above a rising TL (black color) & price will be having the 3rd touch on it with either a break/bounce we're ready for action.
- Price closed just below the Monthly Res: 127.00 & 50% Fib
- Spinning Top PA setup @ Monthly Res & 50% Fib.
- Current candle very near to descending inner trendline.
Potential Flip Zone. Waiting for signal to short
Looking to sell GU once price break & close below the rising TL.
Current confluence factor:
- Monthly Res at 1.4500 (price is below)
- Ascending Triangle Structure (waiting for breakout)
- Multiple rejection by Fib Level 61.8%
- MA's crossover, Bearish Bias
Gold Weekly Analysis
February 15, 2016
Price is likely still in a bearish trend for the overall big picture, with recent weaken of US Dollar, the gold price manage to rally and break the inner trendline. However upon reaching the weekly resistance, as well as the Outer trendline, price hold, now we have 2 significant confluence which will be a...
Found a good setup on 4-hourly chart with multiple confluence.
Fibonacci Level 61.8%(the golden ratio) is great to use with a solid Price Action setup.
I will be looking to short here with protective stop just above the 76.4% and target zone will be position around -61.8% (which is somewhere around 0.65500)
Happy Trading & Enjoy the Good Weekend.
- On D1chart, price consolidate into a descending triangle pattern
- Price is strongly reject by Monthly Support with Solid Bull candle.
- 2 possible happening scenario:
- break to the upside or
- break to the downside;
All depends on price movement to either break above the descending triangle resistance TL or break below its support.
(PIPs Range : approx 250 pips)
Price initially have broken the inner downtrend line & move into Buy Zone after create consecutive Higher Low & Higher High. In term of Fibo Swing Strategy, Price is reject & hold by CTL + 78.6% Fib Lvl. Current price is sustaining above Daily Resistance(NOW turned into DAILY SUPPORT), which indicates bias still in the buy zone. Any penetration to below...
EUR/GBP - potential short.
Market price range bound in a huge range (0.73800 - 0.70000) the nearest inner up-trendline was broken as seen in Daily Chart. As technical view point price is potentially fall towards the outer TL with Price Action Setup (Spinning Top) formed at the Inner TL & a strong bearish confirmation after that.
whilst in the Hourly chart we can...