Price created a head and shoulders pattern on the weekly. going into the 4hr, I notice market is still is an uptrend due to higher lows and higher highs.
Price at the moment connects with both blue trendlines with one of them acting as a bullish flag. Waiting for price to react off that according to previous...
Price has been creating a descending Nature - I will be going long on completion of Bull Flag, first target being the previous high.
If we reject off the High especially with any ascending Nature I can see price potentialy coming to the downside creating a Double Bottom / Descending formation and going back up.
These are my set ups I am waiting for.
on the usd/jpy market I went onto the 4hr market and saw a bullish flag opportunity which was showing the text book definition so I went ahead and placed were I would like to enter the trade. I have also added in the stop loss and take profit as well.
Please make sure to check the analysis on the 4hr chart and check for entries on the 1hr chart as well thanks guys.
NZD/USD has been bullish as of recently so we follow trend continuation.
We are currently in a corrective state, but approaching structure levels.
We see a trend channel that price is following, so if we continue this channel we should expect movement to the upside since we just finished a corrective wave.
We can also see a large bull flag formation. If this...
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Traders - do not be fooled, the recent bearish movement of eur/nzd is purely a retracement following the pair's 2015 move - classic bull flag stuff. On daily chart, the pair closed above the falling trendline that has been in force since mid July, signalling further bullish action for the pair.
I suggest longing upon retest of falling trendline following...