matthewdvt

matthewdvt

On he 4H, price has created a Head & Shoulders pattern which is a strong indication of further downside potential. The higher the timeframe the more significant the move is.

matthewdvt

On the higher timeframes price has respected this key area highlighted on numerous occasions. Last week we see a big impulsive move to the upside where we then had some doji candles indicating indecision and bulls may be losing steam. I like the fact out fib reversal sits nicely in this area also.

matthewdvt

Price has rejected the upside multiple time on the Daily timeframe indicating there isn't much buying pressure. On the 4H we have no closed below the 50ema which is another added confluence to a short trade. Along with all that, price fits perfectly into my Fibonacci "golden pocket" rejecting this area also is another added confluence.

matthewdvt Updated 

Price broke above the highlighted area of resistance, came down to retest and rejected perfectly. With the DXY weak across all USD Pairs, this looks nice! Currently 13 pips in profit.

matthewdvt Updated 

Price is currently in a ascending channel respecting both support and resistance on numerous occasions, creating higher highs and higher lows. We reached a strong area of resistance at around 1.000080 ( highlighted yellow ) and failed to break above closing with a nice wick rejection. We then made another drop to the downside where we are today. I am looking for...

matthewdvt Updated 

Price is currently in a strong down trend on the Daily timeframe, making lower lows and lower highs. We have now had our third touch and rejection of the descending support and currently sitting in the Fibonacci "golden pocket" area. Around this area is where I will look for entries, looking closer at price action on the lower time frames, including candlestick...