GER30 Bullish Bat Waiting to see what happens, this could easily break out and turn out to be a crab pattern.
Potential bullish cypher on XAUUSD with Previous support (double bottom) and indecision candle.
Possibilities for EURUSD
Potential bat pattern completion at the 1.618 level as well as previous resistance. We are also in a descending channel and approaching resistance. When price reaches the 1.49000 area, hopefully we see some confirmation; maybe a doji followed by a lower close, or and bearish engulfing candle. I've gained some confluence by using the Fibonacci retracement tool,...
Here with have a nice bearish butterfly pattern where price also meets structure (Previous support/resistance).
XAUUSD 4 HOUR TIME FRAME - Price at resistance in a descending channel - Previous resistance - Head and shoulders pattern - 2:1 risk/reward ratio - Stop loss above previous structure - 0.618 Fibonacci retracement
In March/April we saw a triple top on EURUSD around the 1.10000 level. Price continued to fall then re-tested aound 1.05650. We then saw a break of structure to the upside, then price reversed and broke structure to the downside and now it looks like we are re-testing off of this 1.10000 structure level. Price also seems to be retesting off of the 50% Fibonacci...
Nice structure levels on USDZAR. The pair broke out of a descending triangle at the end of the week and probably will continue to rally to the next level of structure. I am going to do updates on this trade when we hit structure levels.
Hopefully price continues up to 1.618 to set us up for a potential bearish butterfly pattern trade. The 1.618 level also lines up with previous resistance.
EURUSD broke out of a ascending channel last week and nose dived down to a strong structure level of previous resistance and now possibly support. I went swing low to swing high noticed price also met the 50% FIB level. .Price has also started to slow down at this level so we may see a reversal.
We saw Cable break structure to the upside at the beginning of last week. Price retraced around 1.57800 due to previous resistance and we are now back at the prior structure level. I believe resistance will turn into support here and the price will retrace back up to the 1.57800 level. Of course price could break through the support level and break out of the...
The GBPNZD pair has reached a very strong level of long term resistance. I am not saying I am entering this trade, I am just saying I am going to keep a close eye on it. There is an opportunity for an attractive risk reward ration of 4:1 with also the chance to catch over 1000 pips. The very long tail on this weeks candle could signal that the bears are taking...
Will we see a break of structure on the upside? Or, will we see a retracement off the previous support level?
This is what I think will happen with the FTSE. Please give me some feeback, as I am young and still learning, thank you.