This idea quite simple.
Price retesting support on transition area.
price already create the new high.
we can try to catch another upside movement to make the new high once more.
RR with minimum TP on chart
On the daily time frame we can see price retesting resistance area and created bearish candle
however, we need some consolidation after break trendline to make sure this bearish movement.
sell on break consolidation area will be the best choice
This post is not a trading idea, but for our learning together.
1. False Break
In general, many of us know that the false break is when the price breaks through the Resistance/Support area but the candle fails to close outside that area. When this happens the candle will create a wick.
However, a false break can also mean the candle has successfully closed...
The price formed 2 harmonic patterns in the support area.
In this complete pattern, there are several Fibonacci levels that coincide with the support area.
So that it is possible to become a cluster as an area reversal.
If the price stays above this level, it will go to 38.2 and 61.8 level as default targets for the harmonic pattern
Price tested the resistance twice but failed to break it.
the price even goes down and breaks the trendline.
currently the price is in a minor consolidation.
if this consolidation breaks again, then the price has the potential to test the S/R Area.
The RSI also shows a bearish divergent
On the H4 Time frame, the price initially seemed to break support.
However, the price has tried to fight several times.
Currently price make a strong movement and create a large candle.
If the H4 candle closes with a large candle, then we can buy on the next candle.
On H4 and H1 we also have a bullish divergent which is an indication of a strengthening.
Currently the price is forming a falling wedge as a bullish pattern.
And this will be a trigger for a bullish continuation.
After previously forming a bullish shark pattern and double bottom.
The previous high or 100% point CD is the final target for the shark pattern and also becomes a complete ABCD.
get ready to take buy position when the price breaks this falling wedge
The price tested the 61.8 level and the support structure and got rejection in this area.
Rejection is seen with the price forming a double bottom which could bring the price back to the upside,.
wait for a pullback in the neckline area will be a good entry
CADCHF completed Bearish Shark pattern at level 224
then the price forms a double top as a reversal pattern and breaks the neckline
the price is currently making a correction into neckline.
we can take the sell when the price breaks this correction area with profit targets at the level of 50, 61.8 and 100 percent of CD leg
In last week's trading, GBPUSD fell quite strong and we need to wait for the price to pullback before another sell.
At the beginning of this week, the price made some upside movement.
The sell area is the S/R area, 50% retracement of the total swing and 61.8% of last week's swing.
This area will hold the price to go up even more.
- For aggressive entry, you can...
EURUSD fell quite strongly on Friday' and break its support and form a new low .
In the previous movement the price declined after touching the resistance area.
Then the price broke through its up-trendline and formed a lower low.
We can expect the price to make some correction first before another downside movement.
sell can be done after the price breaks the...
On the daily chart the price completed the ABCD Pattern in the support area.
From here we look for opportunities for a bounce from support.
Currently the price is still correcting and we can wait for the price to break this correction area
before deciding to buy.
we are also have a bullish divergent on MACD.
If the price manages to get out of this correction...
Price currently retesting weekly resistance.
And we can see on weekly candle, price create pinbar which indicate some rejection from this level.
this can give us some reason to find sell setup.
wait for some correction after price break trendline before jump into sell
In the previous week, price tried to make another upside movement.
However, seller pressure reject it.
We can try to catch another sell when price retesting grey area.
or wait price to make corrective structure and sell on break
Price still moving between support and resistance area.
we can expect price will drop one more time when it reach resistance area and complete bearish butterfly pattern.
Sell when price complete the pattern