I found 5 days base (accumulation) according to 30M chart. Price broke the base in a high volume and healthy price action and confirmed effect phase.
SL is set at 0.7450 and target at 0.7900
Risk reward ratio in this setup is 1:6
Feel free to comment if you like analysis >
I found strong downward momentum on the market. This is simple trend trending with Ichimoku. I used multi frame analysis to find good entry level and good SL level.
SL level is set at 1.3195 and target is set at 1.2800.
Today I found a very solid setup at GBP/USD. The strong supply in a high volume entered the market and I saw decreasing volume on the upward leg. and I used Ichimoku in this example. The price crossed the cloud, Tenkan sen crossed Kijun sen and Chikou sen is below the cloud. I don't even need to mention that ...
I found the massive sign of strength in the background after the CPI in New Zealand. There is also retracement FR 61.8%, which held successfully. Watch for buying opportunities.
TP1 - 1.5630
TP2 - 1.5700
TP3 - 1.5820
I found a Bearish cypher pattern + bearish flag in strong downward trend. My advice is to watch for selling opportunities and TP level is set at the price of 110.85. If the price goes above 112.70 the pattern will be invalid.
It is not perfect BAT but is is still valid bearish BAT. It is alternate bearish BAT with B at 0.7 and XA extension around 1.114 . Also, BC extension is 2.0. According to Finobacci work, it looks like overbought and looks good for selling with STOP above D point.
Targets are set at 1.1070 and 1.1025
I saw massive selling climax in ultra high volume in the background. This is a sign that smart money exited their short positions. I found the fake breakout of the low, which is a classic manoeuvre by market markets to trap the crowd.
Watch for buying opportunities. TP set at 1.3970.
I found massive buying climax in the background, which is sign that smart money closed their buying positions. After that, I saw the fake breakout of the prev. 20 bars high. Buying looks very risky.
Downward targets set at the price of 1.2895 and 1.2715