GBP/JPY 4HR - Remember yesterday we posted analysis on the pair expecting a break and retest move to the upside. We didn't get triggered into this trade as price didn't come back to test our key level, but we certainly saw the bullish move.
However, price now testing our 4hr resistance as expected. Will we see a break or a bounce heading into next week?
NZDCAD will remain a bullish trend as the pair hunts down previous LowerHighs. Setting the circles for potential take profits and the blue box for a stop loss you can expect at most a 20pip opportunity.
Be patient and wait for a new HigherLow to form in order for a lower risk to reward ratio when placing your stoploss, otherwise you can still place your stop...
After breaking above resistance on the daily chart, I expect the pair to test the area before upward continuation. On the 4hr chart, this area (i.e. previous daily resistance that should act as support when the market goes for a test) has several confluences that make it a meaningful area to place a pending order. Target has been taken from the 38.2% fib on the...
After a deceleration and an imminent change of structure, I expect this pair to reverse its uptrend and head downward. If the current candle closes below the 4hr structure, a sell limit order would be placed and target would be set at a level with multiple time frame Fibonacci confluences
Starting the analysis off from the 26th March after the big push up. There were more buyers overpowering the sellers at this time which meant our resistance line was broken and became our new support line (new support @ 132.529) and having a new resistance line at 134.705.
It then formed a sideways channel bouncing off both our new support and resistance up until...
GBP/USD May fall 100+ pips
Insight - Due to fundamental events, price has hit an extreme low, breaking the support of the monthly descending channel. Support now at 1.1434 and resistance at 1.1808
Intraday - 4H
Sell or Below 1.1434
Target TP: 1.1296 & 1.1133
Buy or Above: 1.1434
Target TP: 1.1808 &...
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...