As you can see, price has tested 1.84000 multiple times over the past couple of days. We are currently in a consolidation period, with Brexit news incoming the market seems to be preparing for the outcome of those results.
If we can see a clear 4h rejection of 1.8400 we would be looking for some downside for this pair. 1.8400 is also lining up nicely with our...
Triple hit of support with RSI divergence.
Using heikin ashi smoothed (2-2) waiting for confirmation green candle.
Health and momentum is weak
Simple analysis but don't need to overthink this one.
Enter trade on 4 hour for tighter stop loss VERY important you know how to do this right.
This is what I see with GBPUSD.
Going to wait for a confirmation at around levels 1.268-1.27. for a short position.
If EMA65 and the support turned resistance can hold then we could see a big drop of around ~150+ pips.
Daily Chart shows strong support and resistance levels at 1.27 also
If we see a drop id say target should be at around 1.25 but could...
Looking at USDJPY on the 4h timeframe we can see a clear trendline bounce with 2 confirmation candles. Low RSI shows a clear oversold making the trendline hard to break. Adding to the support there is the pivot point just on the trendline. Targets towards the top trendline but being cautious of the MA zone that is on the P pivot point acting as resistance.
We are looking for a completion of the D on this cypher pattern to come in around the 142.27. Which also provides structure to the left. With target 1 coming in at the 141.179 mark and target 2 coming in around the 140.157.
Still waiting on Bullish Break of Channel on $XAUUSD been going on for a while now see tagged idea, believe a big break out could be coming going to take profits and/or add at support and resistance levels.
Just as I explained in my previous post, USDCAD is going up. (I linked it to this one)
Price bouncing up off support after rejection - this rejection is clearly seen by the long lower wick of the candle below the trendline.
This chart is the same as previously, but it shows how I am trading this.
Price should comfortably retest the resistance at 1.3210, but my...
If price falls to the support zone at 111.65, I will be looking to buy in this oversold market.
If anyone trades with a Stochastic RSI or just a plain stochastic, they will see that selling when it reaches overbought and price is in a downtrend or ranging, is profitable.
The same goes for buying when the stochastic is oversold and price is up trending or...
Here we have a Bullish Bat pattern on EURJPY that is pretty close to completing. I've drawn on the two normal targets I would take (and do take) on all my bat patterns, but there could also be the potential for an extended move higher into an even bigger bat pattern completing so it depends with what you're comfortable doing.
I'm using a usual 113% stop...
Here is a potential Bat Pattern setup on USDJPY 4H chart. It's currently at a decision point that I play close attention to. We are currently at the B structure zone and the market is putting up some resistance. I like to pay attention to this zone as if we do indeed break and close above this level there is a much higher chance of the trade...