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...