Price is making higher highs & lows & is moving in a nice uptrend. Price rejecting a strong fib level & if my CTL breaks I will look for a deeper retracement. Expecting a new higher high this upcoming week!
Counter trend line has been broken to the upside, now waiting for a clean break of the next resistance for another 300+ pip opportunity ..
Bulls fighting to keep price to the upside, watching for a break of channel top (CTL) for longs to recent highs.. & potentially a higher high. Price sitting on a daily key level needs to break before considering any direction, Euro CPI numbers shortly could push this pair up to where it needs to go
Nice setup in the making will be keeping this on the watchlist.. Waiting for a bit further of a retrace (lower high) to continue another leg lower. 3rd touch to the trendline is usually the one that brings the strongest move! Patience....
Price broke its daily uptrend line but seems to be needing a retest still, price also quickly bounced off daily support back to the upside. I will be watching price at the CTL for either a break to the upside or bounce to head back lower. Confirmation is key!
CTL broken, retracement to the 50 fib level for a retest to broken trend line is possible, however the 38.2 region seems like a strong area price is failing to close below. Looking to take this setup next week :)
GJ Fell nicely this week I took it at the top of its channel, now waiting for price to reach weekly support where I will look for a break below or bounce to the upside. Watch for a bullish engulfing for longs or a break of the CTL, price now may build up enough momentum to break out of its sideways channel its been moving in for some time now heading to its next...
Potential trade of the week here as price is sitting above its broken counter downtrend line / daily support. Waiting for a daily close for more confirmation.. Lets see how it plays out! :)
Counter trend line breakout, price now under resistance & can potentially pullback to its broken trend line for a retest before going higher. Waiting for some more confirmation.
Such mixed signals on this pair right now it is very irritating lol.. More confirmation needed to take this pair i will keep a tough eye on this pair for a better sense of direction. Whats your view?! :)
Watch for break of counter trend line for shorts, or break to the upside to go long. Sellers are trying to stay relevant & a shooting star on the daily rejecting resistance appeared. Patience....
CTL Broken, higher low made now time for a new potential higher high to form next
Price broke out of daily uptrend line & 4 hour wedge pattern, waiting for a retest of counter trend line (pink line) for continuation to the downside..
Watching this pair to short for weak data news or GBPUSD Long off good data..
- Monthly M.A. up - Weekly M.A. up - Daily M.A. down H4 : Looking for a break and retest of the C.T.L. Expecting price to fall down to Monthly level of support at 1.1450. Invalid if price breaks above 1.1693.
- Monthly M.A. down - Weekly M.A. down but moving closer together - Daily M.A. up Wait for price to bounce from one of the Ascending Trend lines. 61.8% FIB zone preferred. This play comes in alignment with the Dollar Index. Only enter this trade from a break of the C.T.L and retest of one of the FIB levels or C.T.L. *This trade will be invalid if price falls...
Potential short opportunity again, price rejecting the 50 fibonacci level & counter trend line. Watching for a daily close so far it is looking good : )
Bounce off CTL & 61.8 fib level again, will only look to long once a break of the counter trend line. Other wise my bias remains bearish.. GBP news in a couple hours something to watch closely