monthly: kinda like a hammer but wouldnt say so,this month candle looks like a spinning bottom
(not that much tho)price has shown strong rejection of 1.05 level, but it's still in a downtrend since mid 2016
ma's are pointing downwards/sideways, kinda "correcting" themselves
weekly: price has been rejected from weekly resistance 1.08 and a very (almost marobozu) bearish engulfing candle formed
(27/3/17). In this timeframe price is still heading downwards as in the monthly timeframe. Im looking for a retest of the
CTL (aproximately 1.05400) then a pull back maybe to fib 38,2%, weekly res and touch of the upper trendline confluence
Price has been making lower highs though, and higher highs almost (not higher close, higher wick yeah)
i can also see ema's have crossed in 13/3/17 to the upside but then ma's failed to hold as support and price fell back again
atm (13/4/17) price is being rejected from both ma's
daily: price has made some sort of "railroad" candlestick pattern, a very bullish candle then a very bearish candle but not
an engulfing candle. Price has done the exact same thing at the same level in the past, it appears to be a daily resistance
at 1.06750. My bias is bullish for this pair, since it broke structure (past higher high). What may happen now is a pullback
before the continuation higher. Price has made higher lows and higher highs, broke previous structural high.
What im looking for right now is for price to retest the reversal zone (1.05500-1.05200) before continuing moving upwards
Im looking for buy trades only, following this timeframe analysis and structure. Right now im expecting price to reach the
50% - 38,2% zone, a pullback to the outer trendline before continuing moving up and breaking structural high.
IF price doesnt reach 50% - 38,2% zone, im looking for the previously mentioned pullback to the more or less (1.05500-1.05200)
then a reversal to the upside, only if we get some sort of candlestick formation that price will indeed reverse at that level,
if not, next target would be -27% retracement wich is at 1.04800 and if price comes down even more the -68,8% retracement wich
is at 1.03600 more or less. That'd be the oddest scenario , because that'd break structure and will confirm further downside,
wich is hard to believe because of trump's threathnings to north korea, war, current weakness of the dollar, bad data coming out
from us econonomy, etc.
(not that much tho)price has shown strong rejection of 1.05 level, but it's still in a downtrend since mid 2016
ma's are pointing downwards/sideways, kinda "correcting" themselves
weekly: price has been rejected from weekly resistance 1.08 and a very (almost marobozu) bearish engulfing candle formed
(27/3/17). In this timeframe price is still heading downwards as in the monthly timeframe. Im looking for a retest of the
CTL (aproximately 1.05400) then a pull back maybe to fib 38,2%, weekly res and touch of the upper trendline confluence
Price has been making lower highs though, and higher highs almost (not higher close, higher wick yeah)
i can also see ema's have crossed in 13/3/17 to the upside but then ma's failed to hold as support and price fell back again
atm (13/4/17) price is being rejected from both ma's
daily: price has made some sort of "railroad" candlestick pattern, a very bullish candle then a very bearish candle but not
an engulfing candle. Price has done the exact same thing at the same level in the past, it appears to be a daily resistance
at 1.06750. My bias is bullish for this pair, since it broke structure (past higher high). What may happen now is a pullback
before the continuation higher. Price has made higher lows and higher highs, broke previous structural high.
What im looking for right now is for price to retest the reversal zone (1.05500-1.05200) before continuing moving upwards
Im looking for buy trades only, following this timeframe analysis and structure. Right now im expecting price to reach the
50% - 38,2% zone, a pullback to the outer trendline before continuing moving up and breaking structural high.
IF price doesnt reach 50% - 38,2% zone, im looking for the previously mentioned pullback to the more or less (1.05500-1.05200)
then a reversal to the upside, only if we get some sort of candlestick formation that price will indeed reverse at that level,
if not, next target would be -27% retracement wich is at 1.04800 and if price comes down even more the -68,8% retracement wich
is at 1.03600 more or less. That'd be the oddest scenario , because that'd break structure and will confirm further downside,
wich is hard to believe because of trump's threathnings to north korea, war, current weakness of the dollar, bad data coming out
from us econonomy, etc.
