Price broke out of the down trend, breaking market structure. Price made a higher high confirming that it is in an uptrend, however GBPUSD is currently in consolidation. Price will possibly retrace in the 50 and 61.8 percent area which is also where the daily resistance line is marked. After retesting that area zone look for buying opportunities till the next...
Price for NZD/JPY is currently in a range, price has come down to a support area zone (coming from the weekly time frame). On the one hour time frame a hammer has formed resisting the red zone i created on the 4 hour time frame. This indicates that price does not want to move any lower, look to take profit around the green area zone!
Price broke the downtrend line on the daily tine frame with great buying momentum to the upside. As you can see market structure had been broken! In order to validate for a new trend to the upside, price created a higher low and is retesting that area . There is a possibility of a bullish flag forming, with that said look for long term buys!
As you can see AUD/USD is following market structure on the 4 hour time frame, creating higher highs and higher lows. Price may possibly reach up to the weekly support area zone, bouncing back down to the downside!
Following the downtrend, hit tp1, tp2, tp3!!! Possibility that it will continue towards weekly support area (green area). Practice risk management, trail your stops, and ride the wave! KEEP THIS IN MIND, THE TREND IS YOUR FRIEND.
