Price formed a bearish pinbar after breaking a short term resistance trendline. Overall trend is down. RSI divergence
Price broke a short term support trendline. What we should look for is price to pullback and form a price action sell signal or a bearish harmonic pattern.
Last week price has reached a key resistance zone. If price breaks out the medium support trendline we will come back with the potential bearish setups. Key resistance zone:
Maybe we are a little bit late with this one but in case price retests the resistance trendline which now acts as support we will give it a shot for a nice 2:1 risk/reward ratio. If price reaches the first target, lock your profits and target for 2090.80 level. Key Resistance Zone:
In a previous post we intetified a bearish pinbar in the daily chart. Until now the setup works nice. In case someone missed that pinbar setup we have another sell opportunity. Price broke a medium term support trendine and it seems it's pulling back. Look for a price action sell signal or a bearish harmonic pattern at 16.000 - 16.050 zone.. Breakout in daily chart:
In a previous post we talked about a bearish cypher pattern which formed in a key resistance level in GBPUSD. The pattern worked out very well giving us a profitable trade setup. In case you didn't trade the cypher pattern we have another strong setup as the price broke a short term support trendline. What we are looking for is price to pullback and form a price...
Price is now testing a key restistance level. RSI is overbought In the 1h chart price broke a short term support trendline and pulled back forming a bearsih pinbar. Key Reistance Level:
Short term support trendline breakout. In the bigger picture price is testing a long term resistance zone. What we are looking for is a price action sell signal or a bearish harmonic pattern. If we indetify a sell setup we will come back. Long term reistance level:
In a previous post we indetified a bearish gartley pattern forming in along term resistance zone. Unfortunally we were stopped out but we have another opportunity as in the same area price has formed a bearish cypher pattern. - Trade this setup in two units - If price reaches 1:1 R/R ratio place your stop loss at breakeven - Wach the long term resistance level at...
Price broke that short term resistance trenline and is now pulling back. We will keep an eye for a price action buy signal or a harmonic pattern ( in lower time frame 15min, 30min) at the trendline which now acts like support.
Price has formed a bearish cypher pattern at a key medium term resistance level. Resistance Level:
In a previous post we highlighted a key resistance zone in the weekly timeframe. Price is forming a bearish bat pattern in that zone giving us a nice sell oportunity. As always we want to trade patterns from key support and resistance zones. Here you can fing the highlighted resistance level in the weekly timeframe:
Here we see a strong bearish cypher pattern. Price retests a medium term resistance trendline while in the daily timeframe RSI showing a bearish divergence. In this chart we can see the RSI bearish divergence:
Price in the weekly chart has formed a pin bar after retesting a key resistance level plus the .618 fibonacci level of the 1.53262 - 1.36771 leg. In that level we indetified a bearish bat pattern which makes our short setup much more powerful. In this image you can see the setup in the weekly timeframe:
In this chart we have indetified a bullish bat pattern. Its CD .886 fibonacci level will have to test a medium term support trendline in addition with a horizontal key level. Long term trend is an uptrend. * Thumbs up if you like my idea.
Price broke out short term resistance trendline, pulled back where in addition is testing a shorter support trendline and a short term support horizontal line. All of these gives a nice support area where we will keep an eye on for price action buy signals or bullish harmonic patterns. If a setup will form, i will come back and post it. *Thumbs up if you like my...
Price has broken a long term resistance trendline and it's now pulling back. What we can see is a bullish gartley forming in that zone. Its CD leg will test that long term resistance trendline. Trade this setup in two units. If price reaches 1:1 R/R ratio move stop loss to breakeven. * Harmonic patterns are great setups on their own. But if you trade them in...
Key resistance zone was broken and now price is pulling back to that zone acting as support at this time. Price has also to retest 50 SMA. Keep an eye for bullish harmonic patterns or price action buy signals in that zone. If anything forms in that zone i will come back with the set up..