Price broke an inverted head and shoulder pattern, created a demand zone while doing that. price has now retested that demand zone and we now see obvious and strong bullish reactions.
Price is in a downtrend, the choppy price movement upwards signifies to me that institutions arent place any major orders. Price has formed a new lower high after being rejected by a previously created Supply zone. I anticipate price will continue downwards.
Head and shoulder neckline is broker, price is on its way to fresh demand zone. i anticipate profit-taking/retracement from there back into the freshly created supply zone before further downward momentum. I will be entering a short position once price is in the highlighted supply zone (in yellow) with SL slightly above.
This pair is showcasing lots of confluences to the upside. Price is respecting the inner bullish trend line, and we've also seen a strong bullish action at the 61% fib level, my EMAs are diverging upwards and all of these signify to look for long only entries.
A break, retest and bounce from that bearish trendline and a cross over the immediate zone could potentially see this pair continue further. personally, i'd wait for price to cross over the 0.75 area for a long, and below 0.74 for short. Will have to wait for the monthly close to get an idea of the direction this pair is headed.
Price has been in a consistent short-medium term downtrend. All signals are pointing to continued bearish momentum on this pair. My next zone of interest is the PRZ as shown on the chart. If price follows the rules of the Harmonic pattern in place, then there should be a very good potential setup for a bullish run.
Price has bounced from the 61% fib, it has also broken through, retested and bounced from the top of the highlighted channel. With current bullish momentum, my bias is long this pair, first target will be leg D.
I've tried to simplify this view as much as i can. HH = Higher high, HL= Higher Low. Clear price reaction from the ascending trend line which is also confluent with the 78.6% fib. Quite possible for price to retrace short term (as seen by the new pin bar) but overall, i'm bullish this pair. I do not trade Fridays so i'm out of the market.
Break and retest of the ascending trend line? or a reversal from support.
If the current bullish momentum continues, this would be a great opportunity for a long position. Price broke upwards through the falling wedge which is also confluent with the resistance zone marked in black. upon spotting a good entry that's in line with my management, i'll be looking for price to follow roughly, the previous bullish run as highlighted with the...
Today saw a bullish momentum off the back of the announcement by British PM Theresa May about a snap election in June. With the uncertainty about the outcomes of #Brexit negotiations and this election, what is next for the British Pound. I am anticipating a decline from this resistance zone but i will be waiting till the end of the week before i make any judgement.
Price has been pushed to the support zone of 0.750 after it completed an ABCD pattern that also coincided with the fib extension. Personally, i do not trade on fridays and that view is even more reinforced as there is the NFP tomorrow. I shall wait and see what happens around this level before i can form a bias, though i am anticipating a slight retrace. Remember,...
Price jut completed an ABCD pattern and is showing a retrace from the D extension which coincides with a monthly support zone of 118.00. I am anticipating price to get up to 120.00 zone which is in line with the fib i have place from the most recent lower high and 'Roof' of my EMA. The confluences are amazing on this pair!
Price action is showing a significant rejection of the 1.240 support level, price is now testing this level for the 3rd time. I will be waiting for a break and retest of the Counter Trend Line (CTL) to execute a long trade. A break through support and i'll execute a short trade to around 1.226
Price action is currently at a psychological resistance after completing a textbook ABCD pattern. The D leg is confluent with the Fib extension so i am currently anticipating a minor retrace from this point. However, lots of bullish momentum on this pair right now so price could potentially break through this point and continue upwards. Whatever the outcome,...
An obvious Head and Shoulder pattern has been completed on the 4Hr TF. Price is now currently at a support level and i am anticipating further downward momentum. Price is under both of my MAs which is a confluent as part of my trading rules. I haven't personally taken this trade, i am waiting for Price to break and close below the immediate support before i...
Reason: Due to the lack of Political direction within the UK. Effect: No clear direction for Banks and Investors Time Frame: July - Sept or Oct