As it's shown in the chart, I draw two different bullish channel on the chart because it has two separate momentum in the index value movement.
In according to a uptrend direction and the point intersection in the top line of both channels, also equality of this value with historical resistance (the value of 1.428 approximately), we can attend the...
In 4h timeframe in GBPUSD chart, a bearish max bat was made and it is a sign of falling down to prz1.
- confliction between internal trendline and prz1 ( getting by retracement of CD wave in harmonic pattern) is increasing the power of prz1
-in other side the chart is in a upward channel which pull it up and the correction is not very strong ( verify...
A -RD between RSI & chart is happening and it will be couse to downfall S&P index. Moreover, there is a strong PRZ zone according to the past and it will fall out to 3030 probably and then can grows.
breaking of downward trend in GBPUSD chart was a warn for possibility of changing the direction of trend. A max gartly pattern can be formed in future and it makes a buy position for us. The support line (1.20147) can push the chart to upward and makes a good opportunity to buy, but we should always pay attention to pullback range for having a good trading.
There is a general downward trend since 2008 in EURUSD chart. A bearish Shark pattern is forming from two years ago according to weekly timeframe. The interaction between trendline & fibo level show that it is a shark pattern (will be formed in point D) & creates a sell position not far future.