Many confluences to take the trade. First of all, very nice head & shoulders formation printed just lately. Secondly, the price sits at the 61.8 fib level at the moment. Thirdly, the trendline to the downside has been broken. And, also daily res is at these prices.
The best thing is that stop loss is very tight which means low risk, and the reward is pretty delicious.
GU might be providing very good long opportunities for the coming days and weeks. Longs are to be taken from either 1.213 or 1.21.
However, if the 1.21 fails to hold the opportunity is invalid. I will update when the week starts.
An analysis is purely based on price action and the cycles of the market. A very likely place where we're going to see bears taking the market to 7.5k before the price is ready to move higher and possibly to the new aths.
Tight stops as if the resistance and the trendline are violated the trade is invalid.
Price at monthly key level support has broken trendline on 4h. Ready to Bullrun soon. Know the zones.
Go check monthly to confirm by yourself. No need to use fancy indicators and stuff. It's about time and space, space and time.
Let's get this excellent risk-reward short together! Stop loss is tight because I believe that this is the spot where the shorting starts for this pair and if I'm wrong then we cut it fast.
However, I'm expecting the 3rd bounce to the trendline before any further moves to the upside. It's almost a shame not to short this pair, but if you have your own bias go with it :D
Alright, so this pair offers a pretty good looking shorts, as previously the trendline has broken and now it's also retested.
4h candle printed shooting star giving a good place to set stops slightly above. And, targeting to -38.2 and for tp2 61.8 fib extension
Alright, EU has fallen to the trendline where the bulls and bears are fighting at the moment. However, Longs from these levels are excellent because the risk is minimal compared to the possible reward. Today Euro news and later on the USD news will move the price whichever direction market makers decide it goes.
If the bulls can capture the 61.8% fib zone, then...
Yeah, so the chart most likely tells more than words. But, anyway, the last week closed as a bearish engulfing on a daily chart, and I expect this to be just a retest.
From swing high to swing low drawn fib retracement shows that the price is sitting on a 61.8 % fib, which gives us an excellent risk to reward to this trade as the stop loss is just slightly above...
Ok, so yesterday this pair broke the trendline but failed to stay above it and after Cad had some positive news it dropped back to where the rally started.
However, today is the big day for the pound and I'm expecting to trendline break and hold this time to see a rally towards 1.69 where the next meaningful resistance is.
Pair has created simple W bottom...
To be honest this is probably one of the cleanest setups I've seen for a while as the price has tested the 0.705% and 61.8 fib and is currently sitting on the levels of it.
Very soon news coming from the UK and if they're hawkish I see price making sharp moves.
Stops below the 0.705% fib and targeting as the arrows show.
The chart tells more than a thousand words. Tomorrow RBA meeting coming should send this pair from these levels to higher and test trendline.
Also, there is FOMC coming up on Wednesday and if we see dovish fed then I see this pair breaking the trendline and flying towards 0.7050 ish.
For more confluence go to the weekly chart and look left. Buying these levels...
Alright, so GJ broke the resistance zone and the trendline earlier and is now sold to the level of the trendline and the mentioned resistance which very likely is holding now as support.
There is also an ABCD pattern, and the price is now at the C leg and is ready to move higher and probably test the resistance, which gives us good 100 pips reward and a good...
I think this setup has the potential to hit the targets even today. The price has been kissing the trendline and is now taking speed from the earlier zone that has broken and it now supports the level.
This pair is providing us an excellent looking opportunity to go long from these specific levels by doing, so it gives us a minimal risk to good reward.
I think the chart speaks for itself and is pretty clear. I'm already in a trade and looking forward to seeing this pair to take sharp moves later this week as there is some AUD related news coming.
Alright, next week I'm focusing on GBP pairs as the beginning of the week starts with news coming from GB.
As Trump is supporting Brexit and the "great deals" to be made between the US and GB, I'd like to see this pair finally to make some moves to the upside as the other GBP pairs have already started to show some strength after falling for the whole...