Third touch of the trendline
Fib golden pocket (61.8 - 71%)
Fib time zone (1.5 - 2)
Should see a nice short happening (intraday idea)
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not guarantee future...
GBPUSD is back at the 1.2750 resistance zone which has shown a lot of action on the 4hr timeframe recently.
I am shorting this fx pair here with the hopes it makes its way down to the 1.25 support zone.
250.00 is a major support, while this level is not broken, the Midterm wave will be uptrend.
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is...
We are looking at the setup on Euro versus US dollar with the pair having run up over 200 pips since last Tuesday and now looking overbought short term as it reaches resistance levels just short of 1.14. We are therefore looking for Euro to pull back lower and retest support levels in low 1.13 area
We have highlighted both overbought levels...
uk oil has been in downtrend for a very long time now with price making a bearish flag on the daily chart.
Waiting for price to complete the bearish flag with one more move up, I say this because price made a double bottom and retested previous support so I am hoping price does the same before melting down at the top of the flag...
Monday afternoon and we are looking at the 130 pip run up in Euro versus Japanese Yen since early morning Friday taking this pair up to resistance around 122.4 area where the pair are running out of steam and turning over on stochastic indicators.
Our trading view chart highlights the relevant support and resistance levels for this pair which...
The daily chart shows price in a descending channel with Ichimoku showing bearish signals as the future cloud is a bearish cloud and price is below the cloud which indicates a strong bearish trend in price.
Chikou Span is also below price which gives us a confirmation that the we should be sell USDCHF.
The 200EMA is above price which is another indication that...
With most traders looking to buy the pair, I am still seeing a lot more down to come.
Shorting this pair is my main bias although if structure gives me any setup to go long then it's exactly what Ill do. 'Trade what you see'
Sell limit order set as per the daily chart. Good luck :)