Rally base drop supply zone. Price has moved away, formed a double bottom before returning to our zone.
Daily highs, Point of Control & 78.6 fibs
We would need to see price have a change in directional bias. We're currently uptrending but coming to such a strong point in the market, I can see a strong reversal targeting the fib extensions &...
Lower high created, with a higher high forming. Inverse head & shoulders on the 8H chart with a strong neckline that's being respected. In line with the daily ranging uptrend.
We're looking for price to break the 1.22 level giving us the idea that price will continue to the upside. Wanting to catch a small pullback into our neckline...
After seeing gold come down and touch our POC and boom last time I've got the target for the price to come to 1772 or just below and collect as much liquidity from these weekly lows below! With a strong demand zone, POC, weekly lows I think it'll form a strong level of support. We will need to see the price show strong signs of reversal on lower timeframes before...
- Higher highs & higher lows on the daily timeframe
- In conjunction with DXY weakness
- Rejection off daily trendline, demand zone & POC
- Break these highs of 1.22000
- Pull back into our psychological level
Higher highs & higher lows. We saw a rejection of the 61.8 fib in Asia and another retest to collect liquidity this morning. Looking for a big structure shift with higher highs continuing to be made and the bull run to continue
Higher highs & higher lows. Looking for the price to return to our psych level creating a higher low off this 61.8% fib or even come a bit lower to the 50% before a proper move. Waiting for these impulses is key as it can identify where the market is going. We want price to come up and test these highs again.
Higher lows created & massive uptrend. Want a price to fill this gap and raid these daily highs, capture as much liquidity as possible then enter around the pullback to these equal highs.
£ showed strength towards the end of last week. Fundamentally intact with over 12 million people getting their first covid dose, UK on road to recovery? Let's hope so!
I have a buy bias on this pair looking at higher timeframes and continued £ strength. On the daily timeframe, we're forming an ascending wedge of higher highs, and higher lows. We're looking to capitalise on this bull run by seeing a pullback into our confirmation zone which includes rejection of the 78.6% fib, the Point of Control (POC), and the ascending trend...
Following higher timeframes such as Daily & Weekly, we can see that USDCAD is in a strong downtrend. We were looking for a breakout of the structure and for the price to come and test these key areas. We saw a weak move through Asia and price is now hovering around our entry. Price could break out of this zone and move to a bullish side, we'll just wait and see...
We've seen gold break out of a strong uptrend to capture some liquidity before a real move. I've marked on my chart the Point of Control Level. POC is where big institutions are trading the most amount of volume. In conjunction with weekly lows, a demand zone and POC - we should be able to get a really nice entry for some ridiculous returns. In the meantime, if...
Still in an uptrend. Want the price to come up higher potentially create a head and shoulders. The reaction off daily highs & the second shoulder would give us our entry confirmation. Looking for lower highs and lower imoulsive lows.
Market structure is currently following the Wyckoff Theory, we've seen the spring, we've seen the retest, could this be the last point of supply? Reaction off the .382 fib this morning will likely see the continuation of the bull run at least up to the previous daily highs of last week.
I have an overall bullish bias on the pair looking at higher timeframes, we'd be looking for a pullback into these liquidity zones and the neckline of the slanted head & shoulders. Wanting reaction off the fibs and a clear confirmation of reversal before entering.
In line with Dxy showing recent strength, I can see the pound pulling back to the lower trendline levels. With the pair been oscillating in an upward trend forming a rising wedge rejecting off the 1.3760 level multiple times, I can see one more test before a drop.