We are seing a pre-breakout structure forming and a possible breakdown of the corrective structure if this breakout manifests. Trade idea is pretty straight forward, entry close to the top of the corrective structure in cas of a pullback or a breakout-retest entry.
Short term target for me would be around 48.25 and longer term targets 47.70 and 46.00.
The same pattern is visible on all GBP-crosses this morning. Strong counter trend impulsive move closing below/above swing high/low, indicating the counter trend players have had enough and want to see a stronger pound.
If this structure holds and we see a pullback towards the short-term corrective structure top I am looking to go short around 0.89930, targeting...
Even though we are getting close to a daily resistance zone I think there is a short-term upside potential. The latest bull run has been almost uninterrupted by the bears and they most likely won't be able to stop it with just one try. So expect increasing volatility before this thing turns around.
For now I am looking to get long if price makes it back to the...
It looks as if the bulls are trying to wrestle through the 104-level with a tight corrective structure just underneath it and hinting a pre-breakout formation. Far from a perfect setup, but a setup nonetheless.
If they manage to break through I'd say the area around 104.100-104.150 should be an area of interest where we might see the sellers take over for a day or two.
The pair has been testing the 1.4580 level for 4 times without being able to penetrate it. The last reaction was pretty forceful followed by a corrective structure. If this structure holds and we see a retrace back into the bottom I am willing to go long, targeting 1.4760 as a primary target and 1.4850 as a secondary one.
Since we are in a ranging environment...
The sideways corrective structure is hinting that the buyers are still interested in this pair and are just taking a break. If the bottom of this structure holds I am looking to go long with my first target being the top of the structure and my second target around 1.4860-1.4870.
If this corrective structure holds I am looking to go long with my primary target around 0.8745. And if that level folds a move up towards the resistance area between 0.87600-0.87900 is to be expected. The resistance area should attract plenty off sellers so would not look for targets beyond that zone.
The market started moving prior to the London open today so I was not able to get in in time. But am looking for a re-test of the 1.2620 area once London opens to get long. The corrective structure is looking good with clear edges. It is also horizontal which always is a good sign in my book. Primary target will be the level that is testet right now around 1.2643...
The bullish mid-term trend seems to be coming to an end. Price has created a new lower low and is now consolidating within a small corrective structure which I assume will be followed by a new strong move south. Was not able to get in before the London open but am hoping for a retest of the small resistance zone and am aiming for 0,86100 as a primary target and my...
Double bottom, followed by strong buying and a pre-breakout structure. Anticipating a breakout to follow this structure with 3 possible target areas, the first one being the high probability one of course.
Still in a ranging environment on the higher time frames, shorter time frames can present some short term trading opportunities. Depending on how price reacts to the small support zone around 1.8200-1.82150 I am considering to go long with my primary target at 1.82500 and second target just shy of 1.83000.
Went long at 1.54450 and looking to target 1.5500 primarily. 1.55300 is the extended target.
My apologies for not posting a more thorough analysis due to lack of time. Unfortunately I also was a bit late with posting my trade idea on TV.