We have looked at the daily chart and can see this as a strong area for support where the current price is. If we get a strong break and retest to the downside we could see a continuation on the bearish action, however I am currently bullish on this pair and expecting price to rise for now.
We will come back to look at this chart and we will keep you updated!
EU has been in downtrend for the past 12 months and has created a falling wedge on the weekly indicating that bulls are getting stronger. Bulls have found some support at 1.1110 which was last tested in May 2017. staying on the weekly there is a 60 pip demand zone between 1.1110-1.1170 which we have dipped into 4 times since April 22nd, each time bull have...
After the Bears took control at 1.36500, a very strong bearish momentum has pushed the market in a strong downward trend, retesting off resistance zones as it continues to decline.
As our previous trade successfully closed breaking past both of our targets. We are looking for another retest entry to profit from the bearish momentum.
Looking to get long on the Cable this week, using this Gartley pattern as my entry reason. We also have some fib confluence with the 50% & 618% retracements of the last couple of moves up from higher timeframe.
Ok ok, here on the 4HR time frame we have a bullish pattern in which i opened my trade at 108.975. This was promoted by a retest of my price zone reversal on the daily time frame pattern, guessing which?? a good guess would be a harmonic if you see it.
Lets see what happens dudes?
#BearringtonTrader #Long #USDJPY
4hr chart showing a counter trend trend line break with commercials at all time high in short positions. This could lead to WTI falling back to $60.00.
Looking for short opportunities down to this area.
In the 4 Hourly graph we can see price action meeting resistance around the $5800 mark. This is shown by the blue box market ‘resistance area’. There has been strong buying action at $5400 market as ‘Potential support No.1’. If enough buyers accumulate then it should push the price past $5800. In this regard if the price pushes strongly past $5800 then the up...
1.Trenline break on daily
2.Weekly timeframe changed sentiment (short) weekly downtrend
3.Break of opposing level on 4hr
4.Profit margin (1:4)
5.If price action shows signs of reversal than we exit trade otherwise we hold until all major support lines/zones are broken