pinbar rejection of daily 0.6864 support with confluence of break and retest of daily bearish trendline
trading the bullish channel
first target @ daily resistance of 0.6933
second target at monthly resistance of 0.706
A break and retest of price above 1.91481 will push price to 1.92744 (buy) - A setup
A break and retest of price below 1.90892 will push price to 1.893 weekly support - B setup
A potential head and shoulders is visible from 50% fib retracement on 4hr. Bears favoured on this trade therefore B set up favoured.
a short on EURNZD has already been taken due to the following factors
1. rejection on the weekly support area of 1.74
2. weekly shooting star off the support area
3. possible formation of a right shoulder for a daily head and shoulder pattern visible.
A possible long position on DAX to retest the broken daily trendline .
two possible entry
1. at 11770
2. at 11853
long to 12442.
Inverse head and shoulders seen on 4hr and retest of neckline is entry point
Long bias on GBPJPY based on the following
1. daily hammer at monthly support 136.0 with confluence of weekly upward trendline.
2. tweezer bottoms/bullish engulfing at 136.0 on 4hr timeframe
3. at 2hr timeframe inner trendline broken by bullish engulfing.
3. entry @ 136.33 to target 137.42 and 138.16. SL @ 135.22