as we can see price is coming closer to the pre determined level will wait and watch how it reacts to this level to take a short
i am seeing a possible H+S We need a break of the neckline and retest to go short
we can see here price broke out of major uptrend we need 3 things to happen , we need to retest the trendline or give a a continuation pattern if it decides to shoot down and we need to use a higher tf such as daily or h4 for the retest as this is a major uptrend break, smaller Timeframes will be difficult to judge weather the retest is valid ie: candlestick strenght ect
we see price approaching the trendline in a corrective manner as two previous times if you hop on the 15m we see price also formed a channel to which its approaching the trendline resistance i have placed sell stops under previous support to catch the down movement if and when it occurs
so i saw GJ spike down so i switched to EurGbp saw price break out of wedge so i hopped on a long
after price bounced off the trendline i thought it would sky rocket up but as i see it approaching this level from where it shot down its approaching it in form of a correction so i will set sellstops under previous level to catch the impulse if it presents itself
i have taken a short position on gold due to a retest of the broken trendline
i am still very bearish on this pair stops just above structure risk reward ratio in check
waiting patiently for this setup to present itself on the bigger Tf this is the retest of the broken trendline .on the smaller tf we are seeing price approach the level very weak which is a good omen for us as it shows that buyers are hesitant in pushing the price up very possible that once price reaches the level sellers wont hesitate to bring it right back down
Price did not give us bearish signs as it approached the decending trendline rather it broke out will place afew buy stops above level highlighted in purple to grab pips till the next previous resistance
seeing a head and shoulders forming waiting for break of the neckline
have been waiting for this move a while now if you have been following my Uj ideas and price is already dropping after retesting the level will look to grab ahold as market open
Price retesting broken level and formed possible head and shoulders will look for the break of the neckline and close on h1 or H4 to enter short
if Price does not form a double top i suspect it will give us a third touch before going down
im seeing price respect a previous level where it shot down and its approaching it in the form of a correction looking to see price retest the level and form a double top the go down
we can see price respecting the small trend im anticipating price to touch the bigger trend and then play to the upside
Eurcad gave the impulse move and on the 15m made a sort of correction looking for the next impulse to the highs