Am expecting the price to rally towards the psychological region of 1.12000, a new leg could be formed to the highs, price is currently respecting the 61.8% fib with morning star pattern. This will depend on USD potentially weakening, GDP consensus expected to decrease this week could be the obvious catalyst for our bias. Great risks reward 1:2! -Simple & clean...
Simple trade setup, new lower high has been formed am expecting the price to retrace to this region... area of the confluence with the trendline and MA. -For more detail perspective message me directly to join my telegram.
price has tapped the 3rd bounce of the trendline, can expect some form of consolidation before price rallies to upper-bound of the consolidation zone. trade safe and simple.
the trade is self-explanatory, this is a key area of confluence -great risk/reward adding more entries to this region
price retraced to the key trendline creating a lower high, first sign of rejection with a Doji candle tapping the key trendline, am expecting the price to form a new lower low.
Am expecting the 1.31000 key dynamic area of resistance/support to be tested price has been respecting the weekly trendline, inability to break with candle rejections. MA is in confluence with the area of support. great risk/reward trade.
Am expecting the price to form a new leg higher and retest the key structure in which price was consolidating at around the 135.500 regions. The sterling has in my opinion overextended into the lows due to political risks in the economy however, from the technical standpoint momentum is being picked up.
adding more positions to this trade, momentum is more dominant towards the downside, signs of reversal have risen the validity of this trade e.g head and shoulder pattern.. price action is also consisisting lower highs and lower lows. I mentioned more details as to why im scaling this positions previously from the perspective i gained from the higher...
quite a simple intraday position, expecting the 0.7000 psych barrier to be broken to the downside to retrace towards the highlighted region, which is also in confluence with the trendline. -great risk-reward
On a technical perspective, price is clearly indicating that GBP could potentially reverse versus the Australian currency, price is respecting the weekly region of 1.7700 with previous daily closing above it, today's daily close could add further confirmation if the candle closes as a spinning top/Doji. technicals are pointing out to price possibly extending to...
Price broke the counter trendline with strong buying dominance, we are now retesting this region around the highlighted area which respects the 50% retracement zone, am expecting for momentum to further shift into the supply region of $1440 which had previously tested. Amid tensions raised between China and US as trade negotiations deteriorate we could expect to...
Sterling is overly cheap right now, price is clearly underpriced, previous monthly candle closed as a pin bar rejecting the 1.26000 regions. a closer look on the 4HR time frame we could emulate the previous swing and reverse higher to the 1.27000 area, the obvious catalyst would be a slowdown in US economy with fundamentally driven negatives. GBP data out this...
price has approached a key area of support around 1.7700 region which is in confluence with the key weekly trendline acting as support too, in addition, the price has extended into the lows to form a new lower low, could expect some form of retracement to the upward region of 1.8000
135.50 has been a key area of support with weekly rejections around this region, an inverse head and shoulders pattern could be formed around this region before reversing and extending higher towards the 138.000 weekly barriers. -message me privately for signals and questions
price has overextended into the highs of 0.9000 which is a key psychological level, looking closely at candlestick behaviour we see wicks rejecting the highs showing a slowdown in momentum into the regional area of 0.9000 which has several confluences acting as a resistance. Fundamentally, the strength of the sterling ahead the next couple of weeks(lowered chances...
A brief annotation as to what is technically clear, price is creating a head and shoulder pattern, creating swings of higher highs and higher lows. Also, taking into account the global slowdown and us potential rate cut could drive prices to create a new swing low to 0.96000 region.
excuse the late post, but there are CAD interest rate projection talks which are running in play, I suspected that rates would remain the same due to the global slowdown currently going on. From a technical perspective, a 3rd drive could be made as a new lower high around the 1.3200 region in which is confluence with the 61.8% fib and the trendline.
Price has extended to the highs of $60 per barrel which is a key psychological area of resistance supported by a key trendline acting as a confluence too, previous days has shown a slowdown in momentum around these highs with candle rejections such as doji etc. Looking closer at price action am expecting the price to retrace to $59.50 around the 61.8% retracement...