Price failing to close above 134.00 on 6 attempts.
Double top at historical support/res area.
We have a closing bearish candle outside the triangle, which gives us another signal to go short.
Target 132.500. Stop loss above 134.200
-We've reached a price where several fibonacci levels confluences from different timeframes.
-We have a historically strong support and resistance level.
-At this current level we see a double top being formed on hourly.
Depending on rules, there's also a big bearish gartley pattern completing its D leg at this level.
Preferably, I'd like to see a break to...
Its been a while since I entered with this setup, but this one had a case with historical support and resistance area coinciding with the 2618. A clear double bottom, right at the level. With a break to the upside (break of the "v" point of the double bottom) followed by a 0.618 retracement - and here we already see some reaction.
Targetting retest of the...
Rejections at 1.003 and 1.004, which also happens to be a historical structure area and a 0.618 fibonacci together with weakening momentum. These key points build this case for me.
Aiming for first profit at 0.994 and final at 0.988
EURUSD - Short with target 1.1330 followed by 1.1290. Stop loss above 1.14
Momentum has turned bearish with several clues:
RSI lower lows
candle bars lower closes
shooting star candlestick on the last hourly.
Simple, will it hold?
Posted earlier on my telegram - t.me
We see a revisit of the previously broken falling trendline / top of bullish pennant. This area also hold fibo confluences and previous structure- and resistance zones.
I use this area as a first level to put on another set of buy orders with targets 1.13 and 1.14. We might even see a retest of a previous...
Here I'm trading the potential scenario where we have a retrace down to 61.8% fib of the recent bullish leg. This is then followed by a long opportunity. Will update this post when we get to this point.
Behind this idea we have a bullish reversal which is showing by change in momentum and a double bottom followed by a break to the upside (of the V point of the...
Double top followed by 0.618 retracement after the break of the "v" point of the tops.
This also coincide with the highest high (opening) of candle seen 2017-04-23
Makes nice structure, the V point together with the opening high, and the 0.618 fibonacci.
Lets see where this bus takes us. Two targets set up.
In our case we have trend line being hit and respected, historical support and resistance area respected thus far, 0.618 fib retracement on higher timeframe, and a 0.382 fib of recent bullish leg being our first entry.
You can see the breakout from the consolidation channel within orange.
Buying zones in strong light green.
If we close below 1260 we will most...
Just touching our bearish trend line, we have two double tops coming together to make a bigger double top. Trend line and the structure that we see here also coincide with historical support and resistance area, aswell as the round even number 0.9500 which price has yet failed to violate.
Above could very well be reason enough to see a bearish rotation where I...
As posted earlier today on my telegram (t.me) I'm currently short from just above 116 with targets at 115.500 followed by 115.
We see a bearish divergence together with structure and trend line coinciding. We do have a fibonacci 0.382 at 116 level aswell.
While posting this I see we're breaking the "V" low of the double top which gives us yet...
Structure, trend line, and a fibo 0.618 are all fighting together for me on this one.
I will watch closely and keep trailing tight after passing 1.0 down at target two.
For a more conservative approach you could wait for this 4h candle to close (20 mins left) or the MA crossover at hourly.
My reasons for entry:
9 daily rejections, not counting the previous top 27/2 makes this case interesting. The inverted hammer after the double top formed tells me that we have a potential fall to the downside to profit from.
8 failed attempts to close below 0.92900.
We find heavy support here looking back historically aswell.
In the background we also see a completed gartley, and we also have a double bottom followed by a 61.8 retracement which acts as my entry point.
The momentum is turning in our favor.
IF, however, we break to the downside we will most likely find another...
A series of lower highs, inside a big triangle / wedge (see daily or even weekly timeframe) we could see a bearish rotation down to the bottom of the wedge.
Coming from a historically strong and significant resistance area (1.2555) I see a potential bearish ride down to 1.2300 and possibly further. While venturing down I'm looking to lock profit after passing...