Love the respect for the lower trend line boundary here. Near perfect closes and bounces from the green highlighted areas. The upper line is debatable but we'll jump that hurdle when (if) we get there. If the current candle closes again on or above the trend line I will enter a long position. Enjoy!
The accuracy of the trend line is still in question here. Thats why i've drawn two of them on the lower boundary of the triangle. The dotted line and the solid. Watching the price action closely at these levels to see where exactly we get a bounce, if at all. This could be a good one as i think this pair may be pretty bullish long term. Enjoy
A large down trending triangle/wedge has shaped up. Ar the same time, price is currently hitting a flat top within the wedge and the two structures are now intersecting. Do we get a bounce here or a vicious breakout? Only the price action will tell. Its a tough call at this point so i'll wait on further confirmation to dictate the nature of my trade.
This pattern on the 4HR chart has shaped up into a fairly good looking head and shoulders in my opinion. The support line is pretty clearly defined and the head and both shoulders happened pretty nicely as well. Either way i think its clearly in some kind of distribution phase for this time frame, and selling the break of the support line wouldnt be a bad idea if ...
SO We've had a fairly decent looking triangle and a small small bearish breakout so far. Currently this looks to be making a move to retest the support line of the triangle which should now serve as resistance. Looking for bearish activity there for another short entry. Textbook so far, lets see what happens
I like the trend line here. Bounces are clean. Here we are again interacting with it. Looking for a little bearish price action for confirmation before i enter, but i really feel like thats inevitable. The way price ran into this trendline should send it right back reversing the other way. Lets wait on the confirmation to make a move. Enjoy!
Down trend line here in play just the way i like it, widely spaced touches with nice directional bounces. Coming off the third touch here. Moving averages are bending bearish and price action has lost it's bullish steam. Looking for a little more candle confirmation but bearish entry will be coming soon. Enjoy!
This trendline continues to be in play for GBPCAD. on the hourly chart we have a wedge/triangle taking shape that could break either way. We've been bearish here many times, so im leaning and biased bearish, however a bullish breakout is certainly possible. Waiting on further breakout confirmation. Lets see. Happy trading!