JakeSummers4x

JakeSummers4x

I'm anticipating a potential retracement to test the CTL followed by a rally down to previous structure lows.

JakeSummers4x Updated 

ABCD pattern on the cards? AB=CD pattern lines up nicely with previous weekly structure as indicated on the chart. A break of 100.000 and I see the bottom falling out of AUD/USD and GBP/USD pairs.

JakeSummers4x Updated 

As you can see from the chart, we've had a clean bearish break of the Weekly trendline and have now come back to retest it (into previous structure). News next week is going to determine this pair's fate, but at the moment i'm expecting another bearish push down to 115.00.

JakeSummers4x

After fine tuning the up trend trendline, it appears that price has re-entered the trend. This may mean more upside potential.

JakeSummers4x

This pair could go either way for me. Based on my analysis on AUDUSD, and the positive correlation with GBPUSD, i'd say we're in for more selling down to 1.4000 and 1.3500 before we see a true reversal. Price action on the H4 is also bearish. Paying close attention to the Daily Inside Bar and major news releases next week (first week in February).

JakeSummers4x

1) First of all we saw a break to the upside and retested the downtrend trendline, meanwhile respecting the CTL. 2) Breaking the CTL we retested the back of the downtrend trendline (2i) 3) We have since pulled back into previous structure which happens to be a 61.8% fib level and the back of the CTL. We have also formed a nice rejection candle which could be the...

JakeSummers4x

If everyone is expecting it to go south so soon I suspect there's nobody to buy it back at this level.

JakeSummers4x

I'm taking a small fade back up to recent structure within this Inside Bar

JakeSummers4x Updated 

Could this be the end of the bullish momentum? - ABCDE complete - Bearish divergence - Key resistance I wouldn't be surprised if we pushed up to 127.00 before falling.

JakeSummers4x Updated 

I've moved my trade across from GBPUSD to GBPJPY with the looming FOMC etc later this afternoon. ABCD with CTL breaks on the way up. Bulls appear to be in control, collecting stops on the way up. Confluence - D1 completion (127% Fib extension of AB) - 161.8% Fib inversion of BC - 161.8% Fib extension of part CD move - Previous Weekly high - 127.00 round...

JakeSummers4x

I've just added a small short to hedge my long position and will be keeping a close eye on this one.

JakeSummers4x

Simple break of Counter Trend Line with target at D leg completion (127% extension of AB). I'll be looking to hold my position until the 127% extension and completion as market on the chart. At that point i'll be looking to enter a short to fade down to the 38.2% and 61.8% retracement levels.

JakeSummers4x

Bearish Bat setup

JakeSummers4x

Potential trend continuation opportunity using a Bat as entry

JakeSummers4x

Potential Reversal Zone confluences: - Key Weekly resistance - AB 127% extension - XA 78.6% - 88.6% zone - Double RSI Divergence - Bullish trendline already broken to the downside - Price passed 50SMA for the first time in 2 months

JakeSummers4x

Just what I see on a the bigger time frame.

JakeSummers4x

Massive Daily move up into a key level. Approaching a potential double top with bearish RSI divergence.

JakeSummers4x

We're a way off yet, but it's on my radar. I'll be looking at taking an aggressive sell on this pair once we reach a turning point on the right shoulder (using a 123 reversal candle formation and bullish rejection below recent structure.