We can see that price is currently in an uptrend, heading to 1.0980: a key level, 0.618 of the latest weekly swing down, and completion point for an AB=CD pattern. Looking for a daily candle signal at this zone to enter any shorts, riding the wave up until then.
Looking to short this pair at given price. Didn't take the initial ABCD trade as we price was in uptrend, but recent price action suggests sellers coming in. And what better place to short than at a resistance?
EURGBP may form a double bottom at a high probability confluence area. A recent support level, 0.382 and MA200 line up with RSI divergence. looking for a higher low and h4 reversal confirmation before entering.
I expect AU to bounce from the small resistance zone only to get rejected off the demand zone around 0.7606, shooting at the TL and triggering my entry. Obviously closing before NFP if it's not closed by then. If price breaks current resistance then entry is invalid.
1% SL: 0.75945
Ascending wedge after a 5 wave trend. What do you think of my analysis or the outcome? D1 price action is rather influenced by macroeconomics, which I'm not as familiar with as I should be. This is the reason why I mostly stick to the smaller ones. On the technical side, I'm expecting a breakout to the downside, but what do you think about the fundamental outlook?