Price is generally in in an uptrend but price started making lower highs but still higher lows. price have broken and tested old H&S patter neckline but is unable to maintain upward momentum..
For confluence, the .50-.618 (red box) coincides perfectly with neckline. SO im looking to go short from there with what price action signals. gracias
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GBPAUD turns out to be respecting the ascending channel. Expecting price to retest resistance line before falling.
FOR CONFLUEUNCE: the fibonacci levels .50/.618 coincides with the resistance line.
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Hey beautiful people of trading view.
Bullish sentiment is still held. Price closed bearish from last week price actions and showed strong buying power as price rejected the 133.123 price level which happens to the .50 fib level. price will be bullish this week as price will be going to retest broken trendline support now resistance at 138.232. until then its...
Since the break of old support to the upside the pair have been pushing upward with high momentum. the pair would be meeting old resistance and could be pushing downward to support on the new trendline
General market sentiment is still bullish, but a swing high is imminent
The resistance level was gotten from multiple confluences: from pivot point to fibonacci...
If you've been following this pair, you'll know price is about to retest the broken structure. potential heads and shoulder pattern, as price will fall to gather momentum at old support before continuing to the upside.
127pips tp if it plays out.
Price recently broke from an uptrend structure and is expected to retest the region before continuing on its downward fall. Conservative traders could wait for price rejection from the region before going shorts on the pair or buy the retest.
Good luck all🤞🏽
The pair made a massive push to the upside and it is expected for price to correct after any impulsive. it is expected for price to retrace to the monthly support trend line that was broken and then after, push back (LAW OF PRICE ACTION)
for confluence, the pivot point of the previous day have been marked on the charts to show precise turning points of price...