This setup is only relevant if we can get that daily close below this neckline.
As i have already stated to TeePee Students; I want to hit a stop on this, and i will not trade it on a live account. all the reasons for this were shared in our live session earlier today. Targets (1.758 & 1.743) are fib ext targets (1& 1.618). i don't think the previous relevance of...
Price hit resistance level on the Weekly and gave us a bearish engulfing on the Daily
on the 2h I see a broadening wedge pattern... Waiting for the break and retest of pattern to catch some pips to the down side
Why have we been looking for long positions on GJ for the past few weeks and months you ask?
Well, on the daily chart we can clearly see we have resided in an Ascending channel for some time now. However, we have now rallied up to the top of our ascending channel with a third touch.
You can see some key levels marked in on the right hand side. These are key...
Price has broken out of our range to the downside, following our forecasted price path. Lets see if we get any retracement to test our range support level as confirmation to enter a sell position.
Bulls failed to create a new high in the market before bears took over and since we've seen a strong break of our range support.
Keep your eyes on this one! Check out...
We can see price has retraced to retest our previous resistance zone before bouncing to the upside.
Once again, a classic break and retest setup on this pair.
If you have any questions, just drop me a DM!
A really simple analysis on GJ for you guys today!
More classic Break and Retest Setups on this pair - In line with the HTF bias we've been talking about for some time! Mark key levels - wait for breaks of these key levels - then wait for a retracement to test your marked key levels. See confirmation? Enter the trade?
If you don't know what this means, just...
Bears continue to take control of this market as price breaks to the downside. Could we see a retest of previous support before further movement to the downside?
We forecasted a break to the downside because it was in line with our HTF directional bias on the pair. For more - just drop me a private message!
We've seen NZD/CAD in a long term uptrend. We see a break of structure, a retest of a previous structure low before bears enter the market.
Look at these textbook break and retest setups and potential entries you can take to the downside! A break and retest is when price breaks through a previous low in the market, retraces and tests this level as resistance...
GBP/AUD - all the info you need is written on the charts.
This is absolutely textbook one hour structure so far. Put this is your break and retest notes!
Breaks and Retests are a fantastic confirmation of trend. Use them!
Happy Trading guys!
NZD/USD has been on a long term uptrend since March 2020. Zooming into the 4hr we can identify an ascending channel that has been respected for some time.
Here can see that key levels are being broken to the upside and price is coming back to retest the level as support. From these levels we can take out long positions as a break and retest setup.
It will be...