bounced off 38.2, key level touched, bounced off zone from daily range, H4 has a Inverted H&S... Only one little issue i have is looking at daily it could form a h&s, make sure to trail stop loss
to start off this is a very bullish market as of now, started w/ a Top Down analysis, Weekly has Double bottom and neckline is respected, fibs on previous leg(Daily), approaching 38.2 and key level 1.825, i expect market to reverse in this area, as of now we are patient and wait for pattern
Started wit a top down analysis, market went down when tapped previous low(Daily), fib on leg is respected(38.2), market did break Trendline but came back in so I re-adjusted it, Weekly and Daily have the potential to form a H&S, as of now we wait for right shoulder,
your welcome ;)
Analysis speaks for itself, ive been selling this pair with multiple entries, as you can see market makes new lows and is approaching the previous low which is a 38.2 retracement and from there it should keep dropping
As i was doing a top down analysis, I noticed a potential Head&Shoulders forming on Monthly and weekly. Going down to Daily, you can see how it has the potential to form another Head&Shoulders, as of now we wait on the right shoulder, 1st TP is around 0.95
First off with this pair, it has been in a down trend for a while but recently it has broken Trend line(Daily) but the problem is that this pair is still under 1.1 which is a major key level. Looking at structure, it can possible keep going up from where its at(bottom purple box) or it can create a Head&Shoulders and form that right shoulder and keep dropping.
I started with a Top Down analysis and noticed on weekly there is a double top and also how market had recently went up to the neckline and respected it(purple line) and also it had tapped Trendline and made a new low as well. The other trendline that got broken, market had made a head&shoulders which made it drop. As of now i see this Pair should go to around...
Looking at Weekly we can see a inverted head&shoulders and watching how that weekly candlestick closes, also Daily had a double bottom so if your going to make another entry be patient as the pair could retest that neckline. According to Technicals, this should be going up for a nice profit target. Happy Trading!
I started with a top down analysis and had put my QP's. Looking through different time frames, is that on Weekly and Monthly, this pair has the potential to create a inverted head&shoulders. As of now, we are patient as Daily trendline hasnt been broken and there is no set up to go long yet
First off, i started with a top down analysis and what had stood out to me is that on weekly and Monthly, Market is making a bearish W(1st Take Profit around 1.289). Also, It had broken Trendline and is respecting 38.2(fibs). Going down to daily you can see a double top as well which pushed the market down. One thing I dont like is how market didnt respect the...
Lately GU has been going up but it has hit a resistance level and now ill be looking to short it, as you can see it can form a head&shoulders(i trade patterns) and drop from there. As of now, im waiting on right shoulder and Trendline to be broken
lately as you can see with this pair it had been ranging for a quite a while but recently started going up. Im still not sure where this pair wants to go(long term) because as you can see Previous High has not been passed but the 2 previous Lows have been broken, Market could respect the structure(from the 2 lows) and bounce up from there but as of now we are patient. :}
