Overall bullish on GBP medium term, currently long 2x pairs, and this is yet another exhibiting bullish behaviour Good R:R if you can buy on a retracement
Looking to buy based on short term bollinger band reversal Could get back to 1.72 to 1.77 fairly easily, although suspect it may fall lower to 1.6450 longer term before hitting any significant bids
Looking to buy around 1.6450 or 1.6060... Stochastic getting oversold on monthly which is a good place to stage a rally from... This is my longer term picture...
Sold at supply, looking for lower levels
Extended targets as the weekly chart was beyond the 2std dev bollinger band and is stabilising within it (BB Reversal) First target = gap close, second target ~1.46, Good R;R so see how it pans out
See shorter term charts for details
5th wave of 5th wave underway heading into Monthly 61.8% retracement of all time high and prior high (See monthly chart post) Looking for 5th wave cluster levels around 0.8700 or possibly butterfly patterns, would need a candle confirmation to enter short but good potential R;R
Bought crude yesterday based on weekly pin bar, looking for first target around $56-$57, Extended target at $74, although if firs target is hit I will be trailing stops on second part of trade to remove all risk from the trade Around $57-59 I will be then looking to short based on the Cypher pattern shown
Nobody expects interest rates to rise but 10 yr note look like it is heading lower short- medium term On my other charting package the ZNXXXX contract has an ending diagonal with a throw-over and a tweezer top All of this is confirming a bearish bias short term and I see a drop coming and a surprise rate hike Stock markets appear to be trading very slim, and I'm...
Selling now looking for 2066 first target possibly down to 2039
As per earlier post, rally has been on declining volume right into the origin of the Brexit decline Right now we have a completed shark pattern and also a daily evening star pattern which suggests that we could get a decline of 50-61% of the current advance (at a minimum) The risks with Brexit are still real, Chinas shadow banking system is still bubbling away...
Bit early as you are supposed to wait till the 78.20 is broken R:R drops considerably just my thoughts... don't trade it if it isn't your own strategy - that would be silly and throwing money away I don't trade BB reversals but could offer a lower risk entry on the weekly patterns that are present possibly with a stop below 76.09 but that is still a 250pip stop...
Harmonic Cluster Level see lower timeframe for Daily BB W Reversal
I don't trade these but it's there... out of interest...
Expecting resistance to kick in soon to defend the 18000 round handle, any break of this will be relatively significant The fact the rally has been on low volume, especially relative to the Brexit down day...and entering the origin of the move, so if there is any sellers who did not jump on before hopefully they're orders are still sitting there now.... A break...
at 78.6 retracement but I think the better level is around the 2100 level which is a major level going back quite a while