Hello guys, it's been a while! GBPAUD on the 12/11 has reached for the 3rd time a weekly downtrend line but we need to wait a good setup to short. Having said that, we had a 4h uptrend that was broken twice and we had a retest of that ctl with a shooting star/doji at the top, just below a monthly resistance. Don't u think it's time to short? ;) Happy trading!!!
Hello guys, the pair is facing a strong resistance touching a downtrend in the weekly and monthly timeframes. USDJPY also formed a little daily uptrend that was just broken after today bearish USD news. Moreover, on the 7th of Nov, price touched a strong horizontal resistance. On top of that, a possible ABCD pattern is forming with a retracement around 0.618 ...
Hi all, this is a perfect time to make some money ;) We have different confluences to go short on this pair: -price just reached a weekly downtrend and formed a false breakout -monthly downtrend acting as resistance (purple line) -horizontal resistance (dotted line) -daily shooting star near resistance -4h uptrend breakout and close Happy trading :)
Hello guys, we are facing some resistance now but the long term uptrend seems resuming and the breakout of the counter trend line suggests this. The 0.618 fib retracement is a strong support for the pair but I suggest a stop loss just below the breakout candle for a better risk to reward ratio. Happy trading!