FX:EURGBP
there has been stagnation at the resistance area starting at around 0.86800. The market has tried to push through with no luck. A short looks like a very favourable option for a quick win.
Need to be wary as it is a uptrend, however, short looks likely due to:
- Hanging man candle stick pattern formed
- Looks to be completing a 1,2,3,4,5 Elliot wave...
AUDUSD hitting a trendline which has been tested several times. Last candle to close had alot of bull activity eaten away. Bearish candle currently forming is weak. 4 hour chart shows sign of strong long activity.
This Maybe a good early week trade if it ends up as below.
Monthly is hitting a resistance zone, there seems to be consolidation happening. It also looks like there's a 3rd leg of a wave forming.
Daily is currently going through resistance.
I'm going to take a short if the long term trend line is hit and a bearish candle forms OR if a bearish candle forms...
Pin bar formed day before with a strong bearish candle. 4h chart shows a huge bull candle which has been pushed back by bears. 2 potential resistance zones.
