The bear flag formation is underlined from a strong move down, followed by a consolidation channel & a significant decrease in volume within the channel range as shown. I believe XRP could see another drop to around the 0.4 range within the next few days.
Its about time this dumped, CME gap waiting at around $9,000 im sure.
Nice set up on the 4H timeframe at prior monthly candle and wick PA where it dumped from $20k before.
Fib retracement aligns with top TL of wedge, want this 4H to close below 78.6 bit of an impulse entry..
See what the week brings, 27th Nov seems a good day to send it.
I have been watching this pair from last week; 26/10/2020. I have been motoring and awaiting confirmation from its reaction to a previous identified level of possible support around 0.70931. If price breaks it as resistance on its way up. So far I have seen evidence of a possible turn around from a bearish to a bullish market. I have set a BUY STOP ENTRY ORDER for...
GBPJPY SUPPLY AND DEMAND ANALYSIS HIGH VOLUME. Identifying high volume levels is very important. The reason behind this is because in high volume levels there are unfilled orders from the banks which are pending to be activated once price returns to that area. My trading is based off 4h with high level zones.
Wish I had posted this sooner, the wick on 6th Oct at 18:00 gave a perfect sign for a break and retest of the bearish trendline found on the Daily.
This has been broken and retested, this move may be dragged out as it is a Monday and Bank Holiday for USD/CAD so there will not be much volume.
The above resistance has been rejected once after the break of the...
We have just broken a resistance zone on the daily and lower timeframes, we should expect a retest before we reject / break the previous lower high (black box).
Some high impact news out for this pair Thursday, not too familiar with this pair but should the news coincide with the PA over the beginning of the week ahead, I would expect this sort of move to come...
Euro has been in a bullish channel for ages now since the above resistance from the monthly candles formed from Aug - Sep.
Expecting this channel to continue until this resistance is met and either rejected or broke.
Not too familiar with this pair see how the week starts. ✌
Following my analysis on price action of the GBPNZD pair, the market shows an unyielding presence of bears who wish the push price lower. A look at the weekly chart taking into consideration the previous market swings shows a bearish flag pattern formation and the previous week’s close left an evening star formation behind indicating the presence of bears in the...
On the 9th of July the EURGBP broke out of a channel dating back to the 30th April lows at 0.86712. Price now comes back to retest the bottom of the channel which is also a confluence of resistance. I'll be looking on both the 4H and 1H for any bearish price action. 0.88788 area will be my objective if i find an entry.