Lower lows and lower highs on the higher time frames. The pair has respected the descending trendline and has been rejected from the monthly/weekly resistance zone highlighted blue. Price is also floating around the 61.8 fib. I am looking to make a new low around the fib extension.
A few confluences that are giving me a long bias. We have the weekly ascending trend line being respected, higher highs and higher lows, and price stalling around the 61.8% Fibonacci. Also have 2 confluences for the target of 1.40000 being the monthly high and falls in the line with the -27% Fibonacci.
Please feel free to share your thoughts. Thanks.
I am waiting for the Daily candle to close before looking to short the GBPJPY. The descending trendline seems to be holding nicely, also with a rejection from the 61.8% Fibonacci. 215 minutes remaining in this daily candle.
Price broke through a pretty strong descending trend line. I'm looking for a possible long position opportunity. Buying around the 94.20/94.30 area at the 38.2 retracement.
Let me know your thoughts on this setup. Thanks!
AUDUSD made a new high, I'm looking to enter a buy position on a pull back around 0.76650, near the ascending trend line and 38.2 fib level. Let me know your thoughts on this setup. Thanks. ** High impact China news at 10pm est may effect price action for this pair**
Gold broke the ascending trend line and proceeded to drop to 1224 levels. I am looking to stay with the trend once the 3 wave correction is complete. Selling around the 61.8 retracement level ( 1247 ). Placing my stop loss around 1265. Possibly opening up 1200 levels for take profit. Let me know your thoughts on this setup. Thanks.
Im looking to sell the GBPJPY at the 61.8 Fib level. GJ has been in a strong downtrend. Good confirmation to sell on the pull back at 158.500 with the Daily descending trend line, 61.8% fib retrace and strong resistance horizontal line of 158.500.
Let me know your thoughts!