I am anticipating a range break on 4H as shown by the purple lines. If it breaks to the bottom side i will be anticipating a double bottom to form then continue to the upside as we can see its been in a range on daily timeframe.
the outer trendline was respected and I anticipated a move to the upside but once it retests the broken inner trendline i will be expecting a move further to the downside as a retest of the inner trendline and as a fib prz as well as the price respecting the resistance line.
Retracement is in play and I am expecting price to move up a bit and hit my zone then anticipate a move to the down side. Plan your trades' Trade your plans.
Expecting a continuation downwards after a complettion of the pullback. Would strike after all conditions have been met because on daily chart, market structure is still maintained.
After observing BOS last week and a bullish move from the demand zone, I am expecting a pull back to the Fib PRZ zone (50-61.8%) then a continuation to the upside. More confidence is based on respecting the descending trend line shown in black.
Following break of structure on 4H, I'm looking for a correction to either 1. Fib PRZ 2. Broken Trendline retest 3. retest of broken structure then go short
As the new week unfolds this is what I am expecting at the moment as EU has found a new trend. Previous lower high (LH) was broken so I am anticipating a correction to take place then we continue with the new trend. We see confluence : Trendline breakout + Fibonacci + MS + candlestick analysis
On another note we can see it going either way! BECAUSE OF REJECTION ON THE RESISTANCE LINE and a double top formation
I am more biased towards a bullish move as we maintain structure. Trend line break and retest Support area Fibonacci 50 - 61.8% zone
Following break of structure, I am looking for the market to hit maximum 79% fib prz or touch the trend line for the third time before I see a continuation to the downside to the demand zone in gold.
Despite the consolidation range we are in i still think the market will break to the downside following my FIB projection and the bearish structure as well as a Trendline break and retest that happened on the 4H timeframe.
Confluence: Resistance level + Break and retest of 4H Trendline, candlestick pattern I think it will continue going downwards. Lets catch them pips
We can possibly see a continuation to the downside for EURUSD following a break and current retest of the 4h Trendline. on H1 we see a fib retracement zone. Lets wait and see how it unfolds
Confluence: resistance, supply zone , break and retest of structure, fib prz
Bearish structure broken and retested. Fibonacci PRZ between 50 and 61.8%. Trend line also broken
Structure has been broken and looking forward to a retest of either the previous HL or the broken trendline then go for sells.
Break and retest off the descending triangle. Selling zone!
Confluence: Bullish trend and structure held, third touch on the inner trend line, FIB PRZ touched.