Last week pushed up without any liquidity wick to the bottom, based on my experience price only acts like this when it's pushing to a re-test level.
I'm anticipating that prices will push down now that price has hit 1.34300 but I don't know how far it might push down.
From a monthly perspective price is still heading up.
On the weekly price seems to be re-testing...
I had no intentions on taking any trades today but I saw a simple and clean breakout so I took a sell.
My idea was:
1.Price rejected Resistance @ 1.27500 which was a major Monthly level.
2.Price broke out of the support level that it's been bouncing from for a couple of days.
3.Price pushed back in to the support for a re-test.
4.Viewing this from a weekly...
Since H4 wasn't giving me a clear enough signal for where price could be heading to, H2 was the next best Higher time frame candle. I noticed that price had broken out of 137.650 without any re-test of the broken level so I took sells once price hit this level.
Also made sense that price rejected H4 demand zone @ 137.170 to push to the next best supply zone @...
Price broke below 137.500 on H4 then dropped down to a mini demand zone on H4 @ 137.170.
Now price has pushed back up into the newly formed Resistance, price held this level for 5 days as a support level and a H4 broke out confirming that the market isn't ready to buy the pound.
I let my previous sells run and set my SL to 40 pips above B.E, I also decided to cap...
I got in on sells earlier during the day at 138.000 but got stopped out so i waited for price to go back to 138.200 and a confirmation on H4 if price could break this level or not, it didn't.
I waited for an extra hour but price still didn't break resistance so it became clear to me that price had reached a peak in it's bullish momentum and the bears were taking...
I took a sell because H4 closed below 138.000 and price was bouncing within the range of 138.200 and 137.500 so it made sense to take a sell once price had rejected resistance then broke below 138.000 which was a major traffic zone but it looks like I got in too early and price wasn't ready to go back down yet and price tapped 137.800 which was a H4 support.
Price pushed up during the week but the momentum doesn't seem to be enough to turn things around.
Price broke below 137.300 and i've taken a retest trade around this level.
I'm looking to see price push down to the next H4 support level where i will exit the trade.
GBP is also under a lot of bearish pressure so i'm anticipating that price might push further down...
My weekly buy entry was stopped out because i got in way too early before the market dropped into the H4 re-test zone, as i stated earlier, i knew there was a possibility that i could get stopped out but a setup is a setup and my rules say to follow it as long as every condition is verified.
Now that price has popped into the H4 demand zone, i'm anticipating a...
I waited for price to drop down into the weekly retest level before taking a buy. My idea is, since price always fills a level that it breaks out from, i'm looking to bank on the same pattern repeating it's self. I might get stopped out since it's NFP week and things tend to get crazy at times. If this happens, i've set another pending buy limit order around my H4...
If you look back on the weekly from March up to now the market has been moving in a very predictable manner.
First it breaks a level, then it ranges withing a 100+ pip range then it breaks out on the last week of the month only to re-test the broken level to push further up.
The monthly, weekly and daily are all bullish and price is pushing up to the monthly...
I first took a buy on the retest of 1.35100 on the H4 but got in 5 pips early at 1.35150 so this trade got stopped out.
Now i've taken the same setup but as a retest on H8 and the broken daily range zone at 1.35000, i believe that price will push up to the next daily supply zone @ 1.35650 but this might not happen this week because the monthly candle is closing...
-1.35000 finally broke, after a month of ranging. The same pattern happened on the previous month and it broke out on the last week and a half before a new monthly candle opened.
-H4 broke 1.35100 then a new H4 pushed down to re-test the integrity of the broken level before it keeps pushing up to the next zone.
-My goal is to catch a potion of this move, if the...
The daily closed below it's support.
I waited for H4 to re-test the broken level then i got in on a sell.
On the daily, the momentum is pushing down so i'm anticipating a bearish momentum continuation.
I have taken this trade 3 times, got stopped out twice at break-even and the last trade hit my sl. When i finally understood where price was heading for, i waited for 139.900 to get hit and as price started pushing back down into this level i took another sell because price was retesting 138.800 on H4 and H8. Overall, i still see bearish momentum, 138.400 might be...
-Price Broke below 138.700 which was the daily support and H4 support.
-Now price has pushed up to retest 138.700 for a liquidity wick on H4 to push down into the weekly demand zone around 138.100-138.000
Price held firm on the H4 support around 1.34360.
A bullish engulfing candle was formed on the previous H4.
I waited for price to push down for a retest of the broken resistance zone then i took a buy.
I was waiting for a H4 break of support @ 138.700, price did breakout so i timed my sell entry on the retest of the new mini zone to push price down to the next zone around 138.100 - 138.000 which is the weekly demand zone.
Monthly - Price is below the monthly support level of 1.27300 and price is currently in the monthly demand zone.
Weekly - Price is fast approaching support at 1.25800
Daily - Price is trapped between two levels;
-Resistance @ 1.27160 - If price breaks up on H4, i might take buys to the next...