Last week price broke above 2 months high, but a bulltrap was completed when price fellw below 2 the months high again.
On h4 , a macd divergence was registered. suggesting that this structure might be topping out.
The ideal entry will be when a right shoulder is pumped to the 2 mth high level.
However , price is not obliged to do so, and shortist need to...
After multi year lows were broken, this has become a bear market.
Using the bear flag shown, a subsequent bearish leg can be projected,
which happens to be ~16.56 , which confluences with the obvious pivot low as well
I can see higher high , higher low being created. I am just expecting to continue with the mommentum.
Encapsulated within this upmove will be my usual channel divergence setup.
I do see a support confluence of channels together with d1 line chart levels, so I can clearly identify my SL risk.
Spotted a h1 hns chart pattern and with macd divergence. I am interested to see if the pattern will be completed or not , if neckline closes or not. If ti closes , then a flush of 2 weeks high will be done.
What may be against this trade will be the 2 hammers on w1 , but should price do a strong bearish close, It will herald a new wave of bearish move upon...
Currently Nikkei is at resistance of a f5 and a level in which was previously retested in line chart.
It was also halted at the channel trendline.
A successful test at h1 will be meaningful but unfortunately I do not have access to h1 charts for futures.
However this can be translated to other JPY crosses and I also see similar distribution patterns on these crosses.
not sure if the channel is near completion or not.
But macd divergence may suggest the turn is about to peak. I am still looking for trend continuation.
With resistance confluence , I am looking for close below 8265 for my trade to run smooth.
Although not fully completed, there are signs of h1 channel appearing. Not too sure if the big channel TL will be tested or not.
With price moving down for 4 consective weeks, I have joined in the short.
However, current price is a bit low on short,
Price seems to be currently forming a small channel.
I hope i am not shorting into support, in which I believe this support is meant to be broken in due time.
It seems to be the neckline of a large 1 yr descending triangle.
It has been a lengthy consolidation for 2 weeks. Price has touched 2013 high and now seems to be doing a flush of a 2 weeks high , pending day close.
I have a h1 macd divergence identified , although the channel is a bit awkward.
Definitely , I wont be shorting at the low when channel break. It has got to be about now with about 30-40 pips of SL, going for...