lets see if this one makes a lower high , if we can short the lower high @ a zone of support we might get a nice sell.
In case we make a higher high and break the trendlind and resistance we might see this pair go up so sit on your hands!
after a breakout of the bearish channel we see a nice retracement to the 38.2% , which was a zone of resistance and support , also in confluence with a trendline. we might be seeing a reactiob off of this zone
GBP has been bullish ,very bullish. we have to be carefull if we want to short a market with so much momentum to the upside.
But there is some nice confluence of resistance and the trendline.
lets wait for a nice downtrend to form and get some high probabillity entries
that 1.272 take profit level got broken , this was a strong resistance for quite some time but now we see a clear break. if the daily closes above this level we can look for a long.
Take profit around the 1.618.
we can see price moving to the upside from a monthly perspective , now we are seeing resistance becoming support , also we can see this flag pattern which also breaks to the upside , i would be looking for a nice entry to go long on this one
On the weekly we can clearly see this price has broke a trendline to the downside so overall i thing this pair is going down , and it might continue going down later on but for now :
We see price reacting to a weekly support zone ( not the most major zone but hey ) jul - oct 2016 this is were i see this resistance which becomes now support ofcourse.
On the daily...
so i see this pair moving in a very large range , on the weekly it does not seem to be trending if you ask me.
but on the daily we see a very strong move to the upside so there is some nice momentum. still price didnt make a higher high. Its currently moving back downwards.
I wonder if this pair moves all the way to the downside , or just to this 61.8 of the last...
So we've got this miniature setup that looks excately like a previous setup i was trading.
The market is repreating itself.
So this head and shoulders just gave us our first wave to the upside , and we got this nice pullback to the neckline which was in line with our fibs and trendline.
The trend is still going strong and its still making higher highs and higher...
eurusd has been in this bearish channel for quite some time. Im expecting the market to go to a monthly support zone as the markets manouvre between these large timeframe support and resistance zones.
So on the 4H we see this channel , eurusd looks a bit choppy to me but i'd say the overall momevent is to the downside and it will continue for a while
So lets start on the weekly and see our overal direction of the trend. Lets check out where price is and where price is going.
We can see this pair going down for a while now. but it found support and it broke some major support zones. We can also clearly see a W formation.
I am looking at the linechart to make things more...
after a head and shoulders pattern we see the market reverse to the upside. now after a bullish move we see like a rectangle patten , a sideways movement.
now this broke to the downside , i am expecting a pullback before the continuation to the upside.