1) So here we've completed 2-nd correction wave.
2) Now we've been consolidating for a long time
3) Price is still under 200 EMA H4 and we're gonna go lower
4) USD is becoming weaker so good chance to go lower on USD CNH
So we're currently making HH and HL, following uptrend for now.
What we have here
1) Trend: UP
2) VOLUME SUPPORT which means BIG PLAYER support
3) 3-rd trend line H4 rejection
4) 200 EMA H4 support
5) FiBO retracement 61.8
If you want to enter LONG. better use BUY STOP order here + wait for the price to go above 61.8 FIBO
So we're waiting for good LONG opportunity here on all GBP pair. Especially after strong fundamental reasons
1) GBP CHF is on very STRONG monthly support now
2) 1200 pips we've made here without any correction - so no fuel to go further downside = BASICALLY YOU CAN BUY ALL GBP PAIRS now ! But here on GBP CHF i see good R/R and very obvious area for SL
3) So just...
So here is a pretty simple picture.
1) The global trend: UP
2) Local trend: UP
3) We have 3rd rejection of H4 HUGE trend line
4) H1 200 EMA
5) MY GLOBAL TARGET IS 1500 on GOLD
6) There are few wicks on WEEKLY that need to be filled
7) US DOLLAR I personally see bearish for long time. Rate cuts. So perfect time to continue our upside movement
1)GBP changed bias for bullish
2) CAD is gonna be weak for midterm
3) GOOD 1.6355 support level
4) The weak is gonna probably close with Pin bar which is gonna be great candlestick formation
WE should at least retest 1.6580. but i think we could go more higher and then reach 1.7650 WHICH is gonna be 1st target
5) After that, we could try to hold it for the midterm
With the weakness of US Dollar i'm expecting NZD USD to go more higher
1)Main trend: UP
2) Broke and retested 0.6720 critical resistance zone? went higher
3) We have few good FIBO goals on the top
4) 0.6500 - 0.6950 is our HUGE zone on DAILY where we're moving up and down. So it's pretty much common movement in the price corridor like that
5) Broke DAILY 200...
Not gonna tell much here. Everything is simple
1) Price can't move all the time up. Need fuel
2) GBP pairs will strike UP now. EUR GBP down
3) Huge downside movement is coming! Up to 300-400 pips will catch here!
So we broke H4 trend line to the upside. What i see now - we'll at least 0.8900 zone.
More pluses for longs:
1) We broke and tested H4 200 EMA
2) The price tested previous low with breaking lower just to do the stop hunt
3) CAD will get weaker. Also, we have CAD news ahead.
4) NZD is getting stronger.
5) Also on DAILY chart 0.8650 zone was a 61.8 FIBO zone for...
The main thing here is:
1) If the price can go more down to $ 4 and stay there me might see more downside movement to $ 1.5
2) The other side of the picture is - we will got our bullish 2nd shoulder for the upside movement. And as soon as we gonna stay upper than $4 with further breaking H4 trend line - the good buying opportunities could be there. So as for ETH...
A great setup here. After a huge upside rally, we finally SAW
1) The price can't hold over 0.8990 region - and we made a false break to the upside
2) H4 trendline was broken and it's resistance now, so maximum we could test it and I see only one direction here after that - DOWN...
3) Wouldn't recommend any shorts before the weekends, guys....but it's up to you!...
So for now just patience.
1) Of course it would be nice to see 200 as a correction before going more up.
2) But if the trend line to the upside will be broken we might see some movement in the range of 290-320 before going more higher.
3) just try to think little beat here. Scenario A - going to the $200 price is simple. But ranging scenario is also should be...
What I personally believe - we will 78.00 as a long term target. CAD JPYcurrently in a downtrend anyway. So all that we have for the last couple of weeks were the correction wave and I decided to take a short here.
The reasons for the short:
1) The global trend, local trend: DOWN
2) HUGE FAlse break of H4 trend line
3) H&S pattern on H1
4) Break of 200 EMA H4
1) 3rd rejection of DAILY trendline, can't make a higher high
2) OVERALL DOWNTREND
3) Local trend: DOWN
4) Made an impulse downside movement, currently in the correction phase
5) FIBO rejection after impulse + can't make a higher high on the H1 timeframe
6) HORIZONTAL VOLUMES are higher, so probably we not gonna break above them, and I'm waiting for the VOLUME...
Welcome to TOP Trade Club.
1) Here we just did H&S pattern on H4.
2) 106.80 ZONE was a very good support for us to reject from
3) Currently testing 108.50 lvl area. If the price could break above and retest the level I believe we will see a good local upside movement here.
As i mentioned before in my post - we're waiting for OIL shorts. So now we have:
1) Huge false break out on DAily of S/R level.
2) False breakout of 61.8 FIBO zone.
3) Short candlesticks formation on DAILY.
4) Engulfing DAILY candle
5) Close lower previous HL (higher low)
6) Break of DAILY trend line
7) MAssive volume over $65 zone