Head and shoulders pattern formed.
Potentially will fill the right shoulder and carry on long
First target - 1.14
Second target - 1.138
Third target - 1.15
Head and shoulders pattern formed.
Potentially will fill the right shoulder and carry on long
First target - 1.14
Second target - 1.138
Third target - 1.15
We have had the break and retest with immediate rejection of the trendline here as shown which lined up nicely with a former swing low point.
However, we have failed to go ahead and make a new lower low. I would look to see how price reacts around the most recent high and make a decision on my bias from there.
Ill be honest. The last thing I am doing is selling the lows of GBPUSD.
I am not disregarding the fact it could sell off at the lows. But, I would rather see the price break the lows and trap some traders below.
I am expecting a Bearish continuation Monday ish, then hoping to see a trap, then I will buy. DEPENDING ON PA
Things to consider, GBP is very ...
Market maker basic rules on the trading strategy - LDN breakout, ASIAN consolidation, NY reversal.
M and W formations also lay in line with this strategy, as does the idea of a midweek reversal .
Will take any opinions as I'm a beginner with this strategy!
Signal NZDCAD Sell Limit @ 0.91280
SL: 0.91600 (32 Pips)
TP: 0.89800 (148 Pips)
4.63R
Analysis: Entry based off Daily pivot/38.2% Retracement. Stop based a bit higher than 78.2% retracement. Weekly 50% Retracement hit, multiple daily candles failing to bring price higher. Breach of Bull trend channel. Price has been forming distribution and target is 50% level, ...
- See thumbs up, 5 day MA moves upwards cutting across the 10 day MA. (1st Bull Signal)
- If the 5 & 10 day MA's continue upwards and cross the red 50 day MA (Buy Signal)
- See fib level 0.7 & 0.3 for key price action areas
- Use other fib levels for Stop/Loss & T/P
Fibonacci Ratios
- 0.786 / Price level: 1310 - 1315
- 0.382 / Price level: 1290 - 1292
See these as key areas for price action, so buy or sell orders could be placed here if the below indicators are fulfilled. Could also use 0.236 & 1 ratios as positions for stops etc
Moving Average 5 Day (GREEN)
- 5 day moving average has cut across the 10 day moving ...
Fibonacci Ratios
- 0.786 / Price level: 148.000
- 0.382 / Price level: 145.000 - 145.750
See these as key areas for price action, so buy or sell orders could be placed here if the below indicators are fulfilled. Could also use 0.236 & 1 ratios (and their accompanying lines) as positions for stops etc
Moving Average 5 Day (GREEN)
- Both 5 & 10 day ...
I never traded NZD pairs because i never made profits from them but this setup here is looking lovelyyyy...
Buy Stop - 0.69500
Stop Loss - 0.68800
Take Profit - 0.73300
USDJPY Failed again yesterday at the 110 handle, a huge psychological level for the pair, it also sits on 61.8% fib from the jan to march sell off. we now have a double top forming, i have set a sell stop at 108.5, as if the double top neckline breaks we'll potentially see it fall to fresh 2018 lows. Have we just set a new lower high on the daily? could we be ...
The Situation H1 :-
- 5 Day MA (Moving Average - Green) crosses 10 Day MA (Yellow) - Bull (see first thumbs up)
- 5 & 10 Day MA cross 50 Day MA (Red) - Bull (see second thumbs up)
- See Top Fib level for swing price action, predictive indicators below;
1) As long as 50 Day MA stays below 5 & 10 Day MAs - Bull/ Level Broken Higher Highs
2) If 5 ...
My current count and where I added to my positions.
Was an easy short with everyone talking about btc to the moon it was an obvious short play to me and have made easy money hitting with my targets clearly with precision.
Could have played the B wave but the risk: reward wasn't there for me.
Peace, Love and Crypto
