Reason why we sold GBPJPY
W1 Rejection with Tripple Top
Bearish Kangaroo tail (pin bar) formed on the weekly chart. Target will be around 1.65700.
Due to the strength of the signal, I decided to trade this one through the closest support and onto the next one down. Pull back happened and order filled. Now, it's either a 1X loss or a 2X win. Simple.
... and here is our bounce on the daily chart. The dip buyers have arrived and they are buying. I highlighted 5 falling stars on the daily chart at daily cycle tops where we got the next day/days a convincing bounce but on the second or third day the drop always arrived... Sometimes the drop arrives on the same day, sometimes only the next day. But it's coming....
Usd-Sgd Sell Pin Bar Setup at Trendline confluence and EMA confluence
Hello Traders, Here we have a valid bearish cypher pattern on FX:GBPAUD , that is coming close to its completion point. After adding few Fibonacci extensions and inversions, I was able to obtain 3 Fibonacci confluence zones and all of them are located between our short entry (1st zone from the bottom) and the X point of the cypher pattern. Also note we have a...
Hello Traders, After doing top down analysis on FX:EURGBP , I have couple of key ideas that I would like to share with you guys. First of all we can see a clear rising channel (purple in color) formed on the 4 hour chart. Do notice the 2 false breakouts that we got in that channel. I only consider any level being broken only when we get a valid retest after the...
Hello Trader, This short trade setup on FX:NZDCAD is simply based on current price action and the key levels that are labelled on the chart above. As we can see that after every consolidation periods (yellow lines) we got breakouts in the form of strong impulse moves (blue arrows). After being in a strong impulse move for the past 4 weeks, the buyers seems to...