BoJ policy statement / Interest rate decision might make this thing turn up or down significantly tonight, or not!
BoJ policy statement / Interest rate decision might make this thing turn up or down significantly tonight, or not!
A descending triangle fired up earlier today on 30mn chart, going straight to complete an advanced pattern. The pattern would also complete on 27.2% fib ext. of daily chart. We will also note that our Squeeze momentum indicator just showed the end of previous consolidation period (grey dot).
Using the rising channel as resistance (240mn chart) and advanced pattern completion (60mn chart). This level is also yesterday's Camarilla R4 level. C.T.S = Ad.Pattern +2; Channel +1; Structure +1; Indicator ?
Quite a bit of resistance, this would also be a Camarilla S4 breakout. Let's see if this squeezy momentum indicator feels like to squeeze C.T.C = Triangle +3, Structure +1, Squeeze ?
Quite a bit of resistance, this would also be a Camarilla S4 breakout. Let's see if this squeezy momentum indicator feels like to squeeze C.T.C = Triangle +3, Structure +1, Squeeze ?
I found a bit of structure around this level from 2012. I could possibly BUY at Camarilla S4 in case of false breakout for about 20pips. Might be filled in on EUR Consumer Price Index release in an hour. Let's watch how it goes... C.T.S = Pattern +2, Structure +1, Camarilla +1, Oscillator ?
Quite a long way to go, trading Camarilla breakout needs additional supportive system, maybe a squeeze if the pair stagnates at the vicinity of S4 for some time. I'd place my entry if crossing back above S4.
Either way... Little preference for the yellow pattern if it was to complete, alternatively cyan's completion will suit me better for today
It started well at breakfast local time here. I was a little late though. Today's news on GBP should support this move. Also, a reversal below the 23.6% Fib at 171.58 would clear the way for a challenge of the August 15 low at 170.41.
quite honestly, i'm really tempted to take that "live"! will go demo for the moment, but feel free to comment if you saw it
must hurry i guess, let's what happens with that triangle
looking for an eventual long entry point although, a turn below 1.6818 would open the door for a test at 1.6700
We have clearly crossed the support trend line from last week correction, now reaching Camarilla support S4 for an eventual breakout.