We were talking about GBP*** bull or bear bias this week in the members chat after the monster month end flow corrections we saw Thursday last week. Natural corrective measures as compared to trading support/resistance zones meant we couldn't really confirm or form a bias.
However, we are now starting to exceed corrective measures and break and trade...
Retesting now on EJ, it'll be interesting to see if we bounce like we did on CADJPY, pair comparison remember, trying to pick the best out of the bunch, really nice clean zones here and currently on a selloff wave.
So potential for an impulse buy if we pull down to 300 ish again.
Trying to find setups that are not quite really to execute. Still looking to let things settle after the crazy markets we saw on Thursday and Friday, really looking to see which zones are valid and which aren't
Effectively looking for markets to expire and exhaust before looking for the next possible continuation of reversal waves
Still yet to set lower lows on the larger H4 timeframe, really nice corrections seen as mentioned previously on the EA post. On the fence with this pair at the moment, whilst we are nice a bullish still on the H4, the sheer bearish strength on the lower timeframe is interesting.
Really aggressive M5 trends which could continue to perform and really...
Perfect retest wick before then selling off for an instant 1:2 within that same price candle.
Eyes peeled for that previous breakout low and then downside continuations, shame this was over the eastern.
We covered this pair on the watchlist webinar yesterday evening with our coaching programme members. Nice support zone identified, marginally lower lows set, but remembers market open causes some interesting price moves which we need to take with a pinch of salt, so to speak.
Quite a way from realising a support test, but nonetheless, something we definitely want to follow going forward, this pair, alongside GBPCHF has held really nicely and trading fluently between zones and setting new highs etc along the way.
Waiting patiently for that 145.000 whole number support to see a test, nice intersection price here, strong...
Our 0.91450 region held as support, even factoring in the big downside market gaps. Soon recovered just like we did on the 31st January market open too.
Same trading zones to be followed this week with this trading pair. Clear support/resistance trading range from 0.91450 to 0.92250.
Looking to realise this full correction down to 1.37400, probably something we focus on next week as opposed to this week.
Been a while since we saw a cable pullback, so this will be good for us to look to position ourselves in line with potential GBP longs again.
EURUSD - H4
Sat comfortably above 1.21500 now, clear resistance turned to support. Hopefully we can gear up enough to break 1.21800 and realise our first TP target of 1.22200.
From here we would need to break and retest and we could consider 1.23... One step at a time.
Nifty formed three black crows means starting of reversal. Breaking the rising channel and staying below 14200 leads to 13800 levels. And staying below 13800 may leads to 13200 levels.. this is all positional view..
Note :- POST IS JUST FOR LEARNING PURPOSE ONLY BEFORE TAKING ANY TRADE DO YOUR OWN RESEARCH OR CONSULT YOUR FINANCIAL ADVISOR.
HAPPY TRADING 🙏🏻
Looking at the chart, we have seen within the blue box 4 touches of this level. This is filling the retail traders with confidence that a breakout below which is what's just occurred will continue that trend.
Nice long candle this morning clearing the liquidity on buys and now that people are putting on sells they will push the price back up to clear those stops...
We have dipped just below the marked S/R zone for the neckline/support retest, however 90.200 is the previous higher low support, so as long as this holds, I feel we should be okay to recover (USD strength).
This would then tie in nicely with what we have marked on GBPUSD shorts.
EURGBP H1 - Start of a potential reversal, double bottom on our big D1 support raised my eyebrows. Looking to break above 0.89400 and then retest 0.89100.
This would be a perfect start to a 2 stage reversal, but this is required before any further consideration. D1 support zone, failed lower low, break above key level and previous high, retest support. Bullish...
USDJPY H4 - Fresh lows being seen now on the lower timeframes, just need to sustain this for the daily close. Yesterday was a bit of a strange day to see initial strength (short lived on USD), but the bearish theme continues.
USDJPY H4 - Still bearish bias for the USD personally, there isn't any real reason to justify reasons otherwise. Popped back above S/R but nothing to indicate a change in trend, USDCAD is the anomaly, setting fresh highs off the back of OPEC talks. Summary in the above video.