My first trade using Orderblock however this trade is further support with resistance at the orderblock as seen and also with Fibonacci retracement level 0.618 at sight.
Take this trade at your own risk.
This is an update of my previous idea, sorry for the repost firstly.
My opinions on the outlook:
1. Based on 4hourly, I see that the trade has reached to the resistance line which shows that it is a bearish trend market.
2. It is travelling in a channel as you can see from my chart, which is an additional plus point
3. The price is currently at my...
1.Sitting on cloud support
2. Sitting on trendline
3. Sitting on support made previously from a resistance
4. Rejection of fib 0.618
5. Double bottom on 15min(preference would be a double bottom on 30min)
Possible buy however as today is the last day of the week, would wait for one more confirmation to this.
Possible Long term swing target would be 1.22...
What we can see on this 15min chart:
Firstly, We can see from the chart that EURUSD has broken above the bearish trend cloud and is now retesting the Bullish cloud support which indicates a possible uptrend
Secondly, based on the price action as indicated on my graph, we can see a formation of Low -> Higher Low -> Higher Low and High -> Higher High -> Higher...
Hidden bearish divergence on GBPUSD
4hourly formed a lower low too
Resistance at 1.34630(Approx)
Many candle of wicks at resistance on 15 min and 30mins show weakening in bullish candlestick pattern
Not really good at identifying divergence but it seems like it to me would love to hear your opinion on this and the trade in general
Possible trading outlook for GBPJPY
1. Higher High, higher low formation seen
2. 4hourly trendline is bullish
3. Break Above of Ichimoku cloud to the bullish cloud
4.Retest of the ichimoku daily cloud zone and daily zone drawn above
5. Lagging span of the ichimoku has also broken above the cloud and is above the candlestick patterns curretntly.
Overall Bias will...
Please Look out for possible triple top, rejection of 0.618 fib level and rejection of zone for a possible sell market with RR 1:2 Minimally :)
It looks like a consolidation channel too.
Long term TP: 1.06200
Please do share your inputs, thank you!