arieg1985

arieg1985

Any Bull Flag continuation pattern forming above the previous broken structure could be the trigger to participate in the Long setup.

arieg1985

However, by evolving the Falling Wedge pattern to the latest swing point considering the current rejection in LTF, it is also probable that price could reverse back down one more time to test the Double Bottoms area before bouncing back up to the upside.

arieg1985

With the completed 3rd touch of smaller Falling Wedge pattern around HTF bottom of structure, followed with 2 impulsive bullish candle rejecting the bottom, it is possible for price to continue moving up higher.

arieg1985

Very clean overview in W1 Chart with high probability setup to start bouncing back up higher this point forward. Keep in mind that price is also possible to continue trickling its way down to the HTF Previous Swing Low.

arieg1985

The only possibility for price to reverse back up would be the slow down momentum in form of Descending Channel or Falling Wedge pattern breaking down slightly below both HTF Ascending Channel bottom of structure or H4 Previous Swing Low, catching people on the wrong side of the market, to then massively bounce back up higher.

arieg1985

Looking at the impulsive rejection from HTF top of structure, it is probable that price would at least forming a Bear Flag continuation pattern hovering around the bottom structure of bigger Ascending Channel or Previous Swing Low to then continue moving to the downside.

arieg1985

To go higher, at least price could build the momentum first by completing the overall Bullish Expanding Triangle to its 3rd touch at the bottom of structure which is confluencing with bigger Ascending Channel lower structure.

arieg1985

With the completed 3rd touch of smaller Ascending Channel breaking above W1 Previous Swing High with corrective nature, along with the impulsive rejection from Triple Tops area, it is possible that price would continue breaking down the overall structure and start the sell-off earlier.

arieg1985

However, it is also probable that price could continue trickling its way up to complete the 3rd touch of the overall Ascending Channel before the high probability sell-off coming into play.

arieg1985

With the overall corrective behavior and Arcing Nature slightly above the Double Tops area of 2nd touched Ascending Channel top of structure, it is possible that price could go down lower from now on. With the High Test candle closing the week, the momentum to the downside is quite ready.

arieg1985

Daily Chart shows that price is still supported with the current Up Trendline which is confluenced with its EMA50. In H4 for the last 3 days, price succeeded breaks above resistance area 1.27850 - 1.28200 after massively rejected up from Daily Support around 1.26700 - 1.26900 level. To follow the current up momentum, wait for the next pull back to previous...

arieg1985

While the Daily Chart shows the market is still in a range between 108.40 and 114.20 level, the H4 Chart show 2 potential short setups for this pair: 1st Setup > if price bounce back to area between 112.50-112.65 2nd Setup > if price bounce back (extended) to 113.00-113.25 Remember, wait for significant Bearish trigger first before taking Short position on...

arieg1985

For the last 5 months, price is moving sideways within 108.00 - 114.50 level. Last month, price breaks down 108.00 level and previous low a bit, before bouncing back up higher with the confirmation of Bullish Price Divergence. If projected with the recent 2 lows, price may form a Falling Price Channel with the current price is hold around its resistance...

arieg1985

For the last 5 months, price is moving sideways within 108.00 - 114.50 level. Last month, price breaks down 108.00 level and previous low a bit, before bouncing back up higher with the confirmation of Bullish Price Divergence. If projected with the recent 2 lows, price may form a Falling Price Channel with the current price is hold around its resistance...

arieg1985

Legend for price level, trend line, and rectangle: Orange > Monthly Level Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level Both D1 and H4 are showing the overall trend is still up with price hold above MA200 and major support area 1.29737 - 1.30320. Currently, for the past 3 days, price pull back from the...

arieg1985

Legend for price level, trend line, and rectangle: Orange > Monthly Level Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still sideways to down with price hold below MA200. Currently in H1, price seems to form Double Bottoms pattern with price hold within...

arieg1985 Updated 

Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still up with price holding above MA200. In H1, yesterday price pull back so deep to the major support area around 1.31060 - 1.31188 after GBP Interest Rate...

arieg1985

Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 shows the overall trend is still down with price holding above below MA200. However, for the last 1-2 weeks, price shows a great rejection from the bottom and bouncing up higher. Currently in H4 and H1,...