In thy chosen life’s adventures, stedfastly pursue the cause, Neither moved by critic’s censure, nor the multitude’s applause ! -----------------------------------------------------------------> ( newcomers Plz be advised not to trade based on my charts
Keeping The trend of posting possibilities(ref linked charts). I have tried to paint this picture with different set of tools.
Lets see how your analysis fits with this view.
Of Course this may never happen.
Of Course this wouldn't happen in a straight line.
We have seen a Strong Bear move with 4 of 5 days as bearish.
However the previous swing low hasn't been breached yet.
Bears will make second attempt to do so, at favorable levels.
Current bulls, unless they get reinforcements will likely give way to next swing low.
IF Bulls gets re-reinforcements a double ...
Price has been trading in the range. just below 1000 mark for few days.
Previous 3 attempts have been rejected categorically. (2spikes)
Bears have not yet made a lower low. ( HH, HC) - Marked in blue.
With Month End approaching and number of News lined up, the we may see a clearer picture soon.
IF price ...
This is an attempt to storify how the price evolved, throughout the day.
I would "imagine" , there were many entries and exits with minimum of 1:1 :: RR. that you can find.
I have tried to show a few.. how people or robots "may" have looked at this.
How do you read charts? Do you have a story to share?
I do not know what will eventually happen,But until then, staying the OODA Loop I've tried to take pulse of the chart.
The bullish intentions have been made clear. Lets see which setups plays out eventually.
Would have been stronger if this close was above the large red candle on left. (off by some 40pips)
Been Looking for a break to upside for last couple of weeks. (17/18 feb) when the downward trend line broke.
Now that break has been retested and and the mid channel has been broken with clear intent. Would be looking to but the dips and trade with knowledge that we can get a 60% retrace of last leg down.
I just realized i had posted this chart as private 2days ago. Wish they have a convert function. :) Hey ho.. here is the progress since then. Still valid.
We don't fully know which of the fundamentals news would be used to drive this up and then down.
However, IF there happens to be such news events, this ...
The pair has been in bullish reversal, breaking the structure to the up side.
This setup is similar to the 2618 setups that you may find .
With the NFP news we may see a spike to complete one of the moves and continue its journey.
Alternatively , it may consolidate before breaking up.
Looking for long ...
WIth GBP news coming out tomorrow lets see how this setup plays out.
Good RR 2:1
Bat Pattern Completion
Cup n Handle Possibility
Looking for possible Retracement to structure before continuation of move up.
Lets see how the PA behaves in coming hours/days around these levels.
There are Larger Patterns in the making (potentially) Ref, Linked Idea.
IF lower Oil Prices and good summar helped , the price could retest the structure highs.
On the down side, Looking for AB = CD completion once the trend line breaks. Taking the PA to PRZ.
The chart did not allow me to draw some lines lines further than today !
Trade Based on your rules. the Lows saw a good rejection at the levels of D completion earlier in the day. the overall price is still in bearish trend on daily and larger timeframes. But this would be the levels for countertrend trading that would make this cypher come to life.
Risk rewards on cyphers are not ...