Nice, clean and simple. We have the break of a very bearish 4 hour structure.
on the move to the downside, price failed to reach any relevant fib ext targets.
Im looking to the purple zone for scale ins to carry this pair to its final targets 1.74 & 1.72
Time for a new post. All the moonboys are being quiet right now.
We are really entering bear market now , Second wave SCAMdemic is hitting the world.
They are covering a major crisis with this , and using lockdown to control unrest.
In the meantime , stocks and btc should take a beautiful dive.
Along with a good Elliott wave analysis , we can...
We are in a downward trend. And the pattern of the descending triangle is definitely formed.
If price support levels are broken, it is a good opportunity to sell.
You can sell when the first or second support breaks. And expect to achieve the set goals.
The holding company for Primark which is known as "Associated British Foods" chart currently shows a classic bear flag formation, with a perfect straight top which is acting as a strong resistance, and an upwards trending bottom support line which mainly seems to be driven by traders looking for small profits within this trading range. There is no real drive to...
In general, we are in a downtrend.
The price climbed to the height of the second peak to breathe, and now, after breaking the uptrend line, it will continue falling to the target 1.
There is also the possibility of forming a triangle pattern. In this case, with the failure of the support that is the first target, it descends to the next level of supports, which...
eurusd has created a bearish trendline and made a bearish engulfing. Looking for break of structure to retest and go low.
Price could also be supported as well so we'll have to see what happens tomorrow or whenever.
1) Expecting DXY to get weaker and move towards Weekly support zone
2) Price broke out of a support level, waiting for exhaustion before the next impulse move
3) Price failed to create a Higher high and broken out off the channel
AUDJPY H4 - Very similar to the GBPCHF range, trading between 76 whole number and 75 whole number, decent 100 pip range of a pair which generally warrants confirmation. RR is there too, lets see how we respond to this 76.00 resistance zone.
On the H4 chart, we can see a bearish pennant forming.
A bearish pennant is a bearish continuation pattern.
Before entering a short position, I will wait for confirmation by a break in the support trend line. I will also be checking the indicators for cross overs (RVI, and MACD) to show signs of a bearish move and potential overbought regions of the RSI.
eurjpy has broken HL and retested the HL which became a LL.
Either eurjpy can support retest and I can look for a break and retest on a lower tf to go long or I can wait till structure breaks and retests on 4hr/1hr.
Here we have GBPJPY on the daily timeframe, a nice breakout of this longer term ascending trendline, creating a lower low, we also have a little correction happening where price is now interacting with the 50 fib level, If we can get a breakout of this short term ascending trendline I would look to short this pair.
I will be shorting this pair if price can stay below this level it is currently at as there is some nie confluences here. 50 EMA acting as resistance and 50 fib level. Breakout of ascending Trendline and lower low suggests further move to downside.