murcia0161

murcia0161

Bullish pennant forming. I will be awaiting a break and a retest and then entering, targeting previous key levels as a take profit zone. SL will be tight and placed just inside of the pennant formation. I don’t normally trade on a Friday, but a pennant is a pennant. Tight stops ensure that fake-out fridays doesn’t hurt too much.

murcia0161

On the weekly, price is hanging around between the 1.32000 and the 1.22000 levels, despite a bearish fake-out kissing the 1.14000 before shooting back up to the respected 1.22000 level. On the daily chart, price has been ranging between 1.28000 and 1.22000 since mid to late March. However, once we dip into the 4H chart do we begin to see a clearer picture....

murcia0161

Possible head and shoulders forming on EU On the 4H timeframe. As we can see price is currently, without certainty however - wanting time form the right shoulder of the pattern. We can see the 2 moving averages in an indecisive position, however still in a position to cross or be crossed. Just monitor this one guys on market open. I try to not trade on Mondays as...

murcia0161

Noticed price wanted to channel down so saw an opportunity for a little scalpy scalp! Price rejected the .618, maybe once this little support zone is broken we may see it melt even further than my take profit!

murcia0161

TP on a recent idea smashed!

murcia0161

Not an idea just a trade I got in. Price rejected the trendline heavily so i'm riding it to the next support.

murcia0161

On the contrary to my last idea.. If the support zone holds, simply watch for a break and a retest. SL in or below support, and take profit just before the next key level.

murcia0161

I’d set pending orders on either side, with the each also being a stop loss to the other. I’d expect a retest once price breaks, but using lot sizes appropriate to good risk management I think this has potential to be a good set up

murcia0161

More of a question than a trade idea itself, can you see this pair melting? Overall, all higher timeframes are in confluence of the downwards momentum.. It has been in a downtrend with spots of ranging since September 2007. I dont see why it would reverse now, but im just curious as to your views as well.

murcia0161

Just a quick trend analysis. Nothing special but with the right amount of patience, could be some profits if the structure and the trend lines are respected... That's why we love GBP pairs right?!

murcia0161

I noticed an ascending triangle on the 4H chart, nice and simple; nothing too complicated. Mere price action, combining support and resistance levels from the daily where I marked up my zones. There was a bit of consolidation so I went into to the 4H chart and noticed the ascending triangle. I will await the breakout and then the retest. I have used arrows to mark...

murcia0161 Updated 

Weekly showing a downtrend. Confluence on the daily also. Massive rejections from the resistance zone. 4H again in confluence. Found some support, will be why the weekly and the daily candle closed unshaven. The 5 last candles before the break on the 4H were rejecting support and bouncing about. Current candle opened in support zone but looks to be keeping...