Technicals: Weekly resistance 4hr resistance Daily support 4hr 200ema falling to 4hr res short term bearish fib which 61.8% has held once short term descending TL awaiting 3rd touch Would love another pullback to key psychological level 1.40 which also has multiple confluences would also give us a Double Top off the 61.8% fib and res.
Technicals: Minor ascending TL awaiting 3rd touch Short term bearish Fib 4hr resistance on 61.8% fib Daily resistance Daily support Would personally still favour buys here but prepared for all outcomes. Think 1.58 decides it.
Technicals: Short term bullish TL with 3rd touch respected Bearish Fib swing first showing rejections at 78.6% and now showing rejections on the second peak at 61.8% Longer term bearish TL awaiting 3rd touch 4hr 800ema 4hr Support Daily resistance Key thing here is the 61.8% holding. If that's the case it means bearish market structure has been respected as...
All depends on open and how Asia foresees the UK economy in the upcoming weeks. Don't forget, the UK is co-hosting the Euro's and with the football going on the pubs are rammed and the economy is on the right tracks.
Look at market structure. Lower highs, lower lows. Price keeps correcting within the descending channel, but ultimately can't even match previous highs. Once again, it's corrected to the most recent 61.8% before wick rejecting and dropping lower. Entries on breaks of support. Keeping an eye on potential bounce from 3rd touch of that TL.
Be interesting to see how price reacts at the daily support and how many will buy the double bottom! Also broken the ascending TL dating back to the March crash last year so really everything is looking bearish. Just wondering if price needs a correction first as last week was a sizeable drop for a pair with a usually tight range.
Pullback here before a big move this is why HIGHER TIMEFRAME ANALYSIS SHOULD NOT BE IGNORED!!!!!!!!!!! So easy to spot on Weekly
When was the last time you saw a cup and handle formation? This is also supported by the need for a retest of the broken Weekly TL, and the broken 4hr resistance turned support. Now we've reached 1.25, a correction is needed for further upside. Thus creating the handle for the cup. Will watch for rejections at key 4hr zone with the 800ema also present there mid...
Again, another pair that if this falls, GU is in trouble. Weekly support, so how I'll play it is wait for the daily close below, the retest, and then monitor towards end of week for fake outs
Fully still expect 1.60 but not enough confluences to take the trade.
Looking very good for the dollar here broke a ton of key bearish confluences and looks primed for a run at 93.40 following a correction
If the 61.8% doesn't hold here, Gold is in serious trouble of dropping below 1700.
This 61.8% is holding so far, but if it breaks it's crystal clear traffic allll the way down.
Should see bearish continuation here and if 78 can be breached who knows!
Count the confluences for entries both ways. Higher timeframes sideways so only trend is on 4hr really and it's not crazy strong don't be surprised to see sells especially with lockdown extended in UK and 2.0 is a big psychological number
Would love to see a pullback before a run past the ATH.
Personally more bullish than bearish here. But have to wait for price to break the consolidation and tell us
Great entry. Count the confluences. Double Bottom Daily Support 61.8% fib 200ema Ascending trendline 1hr had a bullish doji followed by a hammer candle. Hopefully we can catch some of the move on the way up to 1.60