UnknownUnicorn3974120

UnknownUnicorn3974120 Updated 

From.my analysis we can see price has found itself back at the 61.8 level By scaling through the time frames you can see a trendline break out on the 1 hour and it has retested some support. By placing an entry midway between the last bar and a stop loss at main resistance you can get a good risk reward of 1:12. On the smaller time frame I have an X spot...

UnknownUnicorn3974120 Updated 

Price is at area of resistance. I cant see any fib retracement points. There is divergence. A break out and reversal candle would be required prior to entry. For now it's a waiting game.

UnknownUnicorn3974120 Updated 

From the large time frame price is near 61.8 level. This is a close to an area of structure. The weekly trend is downwards so this would be countering the main trend. However a small break out has shown itself on the 30 minute chart. Couple this with RSI divergence and we should see some bullish momentum until the descending trendline.

UnknownUnicorn3974120 Updated 

Price has had a small breakout of a minor trend line in the 1 hrs chart. There is divergence on the daily chart which h shows exhaustion so a fall should happen soon. A nice reversal candle stick is ideal. I have drawn my expected movements of price. It can either form a double top or head and shoulders. If this is the case price will continue a bearish move...

UnknownUnicorn3974120 Updated 

Pattern has started to form an AB=CD. The C point is at a strong area of structural support. There is divergence on the smaller time frame. There is a break out of the trend line from 1hr chart. Two take profits have been identified. Remember, we can trade C to D and then D as a sell....

UnknownUnicorn3974120

From the chart price has formed a pure 61.8 AB=CD pattern. RSI is still downwards. This is a retest of previous structure. At this point there is confluence from the 38.2 of a larger swing.

UnknownUnicorn3974120 Updated 

In this chart, I have identified a consolidation box. Normally I prefer the breakout to happen to give clarity to the market. However the price is currently sitting between the 38.2 and 50 Retracement levels. This are from the Weekly chart which provide strong structure. The Weekly chart is generally Bearish and respecting a downward trendline. The Weekly chart is...

UnknownUnicorn3974120 Updated 

Price is at the 50 level of the last major fib retracement. There is structural resistance at this area. Price has formed a bearish bar out side the trend line. Price should continue downwards. Divergence is evidence.

UnknownUnicorn3974120 Updated 

This is a completed AB=CD pattern Apologies for slightly off positions as I am using smartphone. The price should break below the red trend line or if there is a good reversal candle stick this will be the start of a bearish move downwards. Price is sitting between the 50 and 38.2 level. Price rejected earlier from the 50. Inside this there is a small ABCD...

UnknownUnicorn3974120

This pair is in a bearish trend. The trend line has been respected. There is a rejection pin bar from the trend line and the 38.2 retracement. This is supported by some strong structure so I expect the price to continue a bearish move.

UnknownUnicorn3974120 Updated 

I expect this pattern to continue a little while longer. I will be looking for entries when it rejects the 61.8 again or if there is a breakout and retest. This is still part of a down ward trend.

UnknownUnicorn3974120 Updated 

From the daily chart we can see price has reached the 38.2 level. There is strong resistance based on the previous attempts. I've marked out a trend line on the last bullish rally. A break out would result in a bearish signal.

UnknownUnicorn3974120 Updated 

Weekly, Pin bar formed at close of week and top of price. Signs of multiple rejections. General bearish trend. Expect a small uptrend to hit the 38.2 again before downwards. RSI and Stochs not in fully overbought yet. Will continue to wait and watch.

UnknownUnicorn3974120 Updated 

From the chart, price is at 78.6 level. There is some structure to the left. One the one hour chart there is clear divergence. Scrolling down to the 30 min chart there is a break of the trendline. A safe entry would be a stop below the structure. For a tighter entry, then one that is a few pips below the lowest low that price painted. Risk difference is 14...

UnknownUnicorn3974120 Updated 

Price has made another AB=CD pattern to point C. On the one hour chart, price has broken and looks like it will retest the trend line. Position boxes have been shown on the chart. Tightest stoploss below last low = 16 pips or more conservative is 45 pips. Take profit at D point is a nice 230 pips giving a potential risk reward of 14.4 and 5.1 respectively.

UnknownUnicorn3974120 Updated 

Price looks to be setting up for a retest on the daily time frame. There is some support at this level. Price already rejected the 61.8 level. Now it is a matter of spotting an entry point with confluence.

UnknownUnicorn3974120

From this chart price has retraced to the 78.6 level of the previous higher swing. There is a level of structural support evident. Price is currently testing the existing trend line. I will wait for further confirmation such as RSI divergence and a clear minor trend line break out before entering. *on holiday in cape verde so analysis is more basic!

UnknownUnicorn3974120 Updated 

From the weekly chart GBPJPY is still in a small consolidation range on the 61.8 level of the weekly chart. Price will need to break below the current range and then the best entry would be on the retest. There was a noticeable rejection candle on the higher time frame. This is one to watch with a big potential to the downside.