BULLISH price at support
(Analysis Based on 4H and 1H charts)
Criteria
1. Up trend on the 4H chart
2. At channel bottom
3. At weekly swing high
4. RSI was oversold at previous swing low
NOTE: Wait for price action to confirm the importance of this level.
BUY GBPUSD at channel bottom
(Analysis Based on 4H and 1H charts)
Criteria
1. Up trend on the 4H chart
2. At channel bottom
3. At daily support level
4. RSI was oversold at channel bottom
5. Slight hidden divergence
NOTE: Wait for price action to confirm the importance of this level.
SELL EURUSD between 1.110xx and 1.113xx
(Analysis Based on 4H and 1H charts)
Criteria
1. Down trend on the 1H chart
2. At channel top
3. At daily support/Resistance level
4. Advanced harmonic pattern (Bearish Bat)
5. RSI > 60
NOTE: Wait for bearish price action to confirm the importance of this level.
GBP/JPY IS APPROACHING SIGNIFICANT RESISTANCE AT 194.59, OFFERING A LOW RISK SHORT TRADE AS A DOUBLE TOP MAY POTENTIALLY FORM.
PRICE ACTION PREVIOUSLY SUGGESTED THE 194.59 LEVEL WAS PROTECTED BY SELLERS, A REJECTION OF R1 AGAIN EXPOSES THE DOWNSIDE OF 190.97 (S1) - A BREAK OF THE SHORT TERM TRENDLINE THAT HAS FORMED WOULD ADD EXTRA CONFIRMATION OF FURTHER...
1. If price reaches the completion of this BAT pattern I will wait for a reaction (Engulfing bullish candle, Tweezer bottom, etc) within the PRZ. This entry zone has acted as support in the past. It is also at a 1.272 fib inversion.
2. Stop is placed at the 1.13 fib extension of the XA leg.
3. Target 1 is below the 38.2 retracement of the larger down move and...
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It is possible, before we reach the target of bat pattern mentioned above on Daily chart, that we can see the price to go test Pivot Zone.
For this to happen, the price must break the channel.
Let's see how many times will need to test or if it breaks down the area, or a continuation of upward movement to Bat Pattern target Point D.
USDCAD had formation of Falling Wedge break which is a bullish indicator. Ultimately the goal and target will be 1.2815 being that the definition of falling wedge pattern consists that after break your target will be where the trend begins also ends up being a double top pattern. Along the path are market TP area's at different Supply zones. EP at 1.2470 with SL...
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Possible AUDUSD 1 Hour Bullish Counter Trend Opportunity
1. Retracement to 38.2 and 61.8 levels
2. Previous structure at targets
2. 50 SMA and 200 SMA around 2 targets
3. Price currently consolidating in a range
4. RSI is not oversold or overbought so wait for the confirmation
Plan your battle well in advance and win.
(Just my ideas,...
