Swings to the upside have been losing momentum. There is a lack of strength from the bulls side to break through Yearly Highs. I am expecting a pullback into the channel and am aiming for a 1.8:1 reward to risk ratio
After making a weak new structure low, GBP made a deeper than expected pullback to the 78.6% level of its last swing. Price is hanging around a previous Long term Structure Low and failing to move away from it. I am expecting a pullback into 1.52817
To capitalize on the bearish trend, I am looking for an short entry fill on GBPUSD. The entry is set to a 50% retracement of the previous swing shooting straight into the 50MA. Overall I am looking for price to reach near 1.6500s because of the strong bearish push
**WT +110** NZDJPY has reached the PRZ and immediately bounced right out of it. Before entering the PRZ price also had bullish reaction to the edge of the PRZ. The abcd pattern drawn in red has completed and price has lost momentum to the downside in the final leg down. Since I am seeing diminishing strength of the bearish trend, I will look to buy expecting a...
I am currently in a long on EURUSD. If price swings back to test the moving average, I will put out a short position with entry, stop, and target. I don't know how long this channel will last on the EURUSD but for now it is giving us traders something beautiful to work with.
A double top has formed and pressure is starting to build in the seller's steam pot. The last doji printed this past friday may have many people selling at 1.09534 but I have reason to believe that price will want to push a bit higher. I have my short entry just below the 50% retracement of this last bearish swing
LT 30 pips
CAD has been exhibiting strength. GBPCAD broke through structure and then closed below on momentum. The next candle shows immediate rejection of the structure area demonstrating the bearish control. The next candle although it had great bullish strength behind it, it failed to close above the previous candle to create a new high. Price should continue...
WT +260 Green arrow belongs after the fuschia arrows (I forgot to add it). EURNZD is approaching an interesting area of demand. Should price bounce off of this area and continue beyond key structure suppor/resistance price should continue to push higher. The trade is there. Those looking for a bigger opportunity have the bigger target with the bigger stop.
LT 51** Huge Momentum behind USDCAD but I have reason to believe this thing will turn right back. A very significant structural area is the wall that price action is running into right now. I am expecting a quick retracement......conservation of momentum