Price moved correctively back towards trend line for 3rd touch, we seen the push back into structure follower by a small correction on 15min enter on break
Price is moving correctively in the channel and has reached the top for third touch. This aligns with HNS pattern (right shoulder) Break of trend line will indicate sells, can enter on the break or wait for break of 4hr ema/zone for retest/correction, match with some fib levels
In the middle section of the channel, second touch of the bottom trend line and respected the double bottom. As we have now broke out of the dotted trend line, we can expect to enter on the correction of the smaller time frame, and riding this back to the double top and potentially the third touch of the channel before analysing how it reacts here for another set up.
Price has now broke out, waiting for a retest/correction, back to the 50% fib highlighted to short back down
break of dynamic trend followed by break of correction on lower time frame, tp 1 to bottom of trend line but also beyond this
Break of small timeframe trend line will indicate we are ready for buys. Respecting 4hr ema
Broke out of trend line, and below 4hr ema, waiting for a correction on lower time frame, back to a level we can then short.
Sorry for the messy chart! Trying some new things and wanted the drawing still saved. anyway, can see it broke the large dynamic trend line, and new low past the highlighted zone, and now drew in a small trend line which I am waiting for it to break before selling. Works well as retest of trend line, near 61%
Another nice set up, can see it has broken out impulsively and now creating a correction/retest of fib level. Can we get to the 50/61% fib again? Bit messy/confusing to draw a zone it can reach, thoughts guys? I am bullish, just waiting to see if we can get close to those magic fib levels!
Moving correctively to outer channel, can we get the third touch for sells, or do we get a fake out and then wait for the move back into structure for sells. correlating well with AUDNZD, where my bias is buys (also adding analysis) I am not a fan of Mondays, but will be watching this closely. Thoughts?
4th touch of outer structure, whole pattern is bullish. I will be waiting for price to break up and retest double bottom or near there with a bullish pattern. TP is to hold long term but to watch how price moves near the outer structure.
Slightly early to speculate, but one to have on watchlist for Tomorrow/Early next week. Can see this pushing back up with a pull back near the double bottom or at fib level around this region. 4 hrs shows whole channel wedge pattern is indicating bullish Would expect to ride this back up and even beyond the channel if we start to push up. Potential longer term buy
4hr Channel shows fake out from third touch, moved back into structure and now potential sells as we approach the channel again. Can also see HNS pattern R:R to TP1 will monitor all the way back to the bottom of channel
Can see the squeeze and close to the third touch of the outer channel, potential for sell back down, will give this some time to see if it can reach the top as it could fake out, if so will wait for it to come back into structure and ride back down. R:R is based on fake out, and rough idea of TP, wait for price action to tell you more first.
Can see the fake out, and move back into structure followed by a small correction showing great chances of a move up. Not really sure on TP, any suggestions? Will see how it plays out tomorrow but correlating nicely with the DXY as expecting that to drop all the way, so chances of this reaching all the way back up is doable at some point.