broke small trend so set tp at start of trend, but the start of the trend would also result in the break of the larger trend and that where the long term idea comes into play along with the formation of a h&s pattern.
we have broken the major trend on the htf suggesting bearish movement for the pound dollar but while price dropped we formed an ascending channel which has broke and made an impulsive move in bullish direction before forming a corrective phase. i believe that we may push down a bit more before another impulsive move in the bullish direction forming a h&s pattern...
we broke support of the HTF structure, i forecast we will probably form some sort of pull back on the HTF (higher timeframe) whilst completing an impulsive move on the LTF. overall i believe in the long term we will form some sort of double bottom (at the green dotted line the lower one/tp) before we skyrocket
We have been in a bullish trend now for almost 30 days at the time i am writing this and we are forming a ascending channel along with a triangle formation inside, we haven't broke both structures yet but we should keep an eye out for when it does as it could be a big opportunity. This idea is still in a way neutral as we could breakout to the upside but we will...
Most likely going to push up one more time and retest the structure maybe forming a H&S pattern before dropping. If it continues to drop i am going to wait till it forms some other sort of structure on the smaller TF for a continuation of the trend.
On the HT we impulsed in a bullish direction then started to form corrective continuation pattern of a descending channel (which so far we have been in for 2 months plus). we had a false breakout previously and price returned inside structure again but now price is approaching the top of structure. Will wait for structure to break as confirmation.
we have broken out of the triangle market structure forming and have been really bullish for the past few days, whilst being bullish there has been a ascending channel forming which might form a pullback on the bigger trend but also provides us with an opportunity to go short. going to wait on the break of the bottom of the channel before entering.
We impulsed out of the bigger ascending channel and now forming a corrective reversal pattern of another smaller ascending channel. going to wait on the break of the bottom of the channel before entering a short to the start of the trend. sl above key market structure. Another option is if it breaks the top of the trend it will continue to go up.
GBPJPY is in a channel which has just been broken, after the break it has gone to retest old structure where i have just entered and put a sl above major structure. Profit targets are the yellow lines, but the big aim is the bottom of the channel.