A daily break and close above, then retest of structure would present a good opportunity to capitalise on the possibility of creating a higher high on the weekly time frame; targetting the 127.2% fib extension of the weekly retracement!
Potential short on CHFJPY if we see a break and retest of the 112.60 level. will drop below the 100 day EMA which further indicates a possible short. Will be keeping an eye out over the next few days, keep in mind the current volatility of the CHF pairs due to the SNB announcements.
We could see a Break and Retest scenario to the downside considering a huge Bullish rally has taken place already. So far we see a confirmation of Quarter Level respect. Yet to await further confirmation.
Price is in an uptrend, break and retest of a support level, simple stuff. Look left to set TP levels, ohh and for extra confirmation we have divergence aswell (red line on the chart).
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As you can see here eurusd is following a simple break and retest of a previous support level that was broken. markets are closed right now and always tend to wacky things on re open, if it follows my analysis we may see anywhere from 1 or more pushes to the up side, before continuing the final push to the downside.
We have seen a break of the previous support and looks likely to be turning into a resistance zone.
Looking for a pullback and a rejection of the support - turned - resistance before entering a short, entry likely to be around the 0.618 FIB
Were looking at a change in direction for this pair.
We have seen a break of the descending trendline after a lot of bearish movement. Forming a new higher high, likely to be a small pullback/retest before making further upside movement. A good entry would be in the golden pocket area/rejection of the 50MA.
Looking for entries for shorts at 134.518
1. Currently sitting in a supply zone
2. Looking for 3rd touch of 0.5 fib level
3. Would then create a triple top
4. Previous break and retest indicating downside
Targeting demand zone about 750 pips down can also set a tight SL here