I'll be looking to take this pair SHORT after a rejection off the descending trend line.
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Zooming into the 1 hour chart. If trend line 'A' isn't taken out with a nice impulse candle asap I believe this could be the start of a descending triangle pattern. This may further develope into a descending channel which I have picked out with white trend lines. I believe 40K is very much on the cards. I have called this short. I'm happy to commit until I see...
Plenty of EUR upside potential heading into next week against the GBP.
Drawn here is a potential price path the pair could take, breaking and retesting key structure levels.
We have seen a break of our descending structure for the first time, this could be an indication of a reversal heading into next week.
Any questions? Drop me a DM!
Simple outlook of this pair on the daily. What happens to price in this key zone will be instrumental in predicting whether USD will complete a reversal to the upside or continue it's decline.
Keep an eye on this pair! Price could break this long term descending channel!
Have a great trading week folks!
EUR/NZD Analysis on the 4 hour chart.
Price has hit a key level coinciding with our top descending channel trendline. We have seen some sharp rejection off this level. Check out how simple it is to find key structure levels in the market!
Price is testing a key supply and demand level on the daily timeframe and has been moving correctively in a descending channel for a few weeks now. The market has now tested this area twice recently on the H4 timeframe and is showing signs of holding. If the market holds at this level, we could finally see a swing to the upside, breaking out of the descending...
Both scenarios (for now at least are relevant).
On one hand, we have a potential double top, with divergence across the two peaks. On the other hand we have a descending channel break with a clean break, hook back and rejection of the channel top....
To sell, i'm looking for a break of the double tops neckline at .912.
To buy, i'm looking for the price to...
The targets for the break of the previous channel (sent to our students) were hit perfectly, before we saw a retrace back down. The beautiful thing about the retracement is that it appears to have moved directly into a new descending channel.
I think we are likely to see a little more of a dip before this pair moves away, but i for sure will be looking for longs...
BTCUSD 1H. Watching & Waiting. I see BTC is currently in a descending channel and rejecting the level in the 'blue box' on it's journey back up after the sell off. In the process of this rejection I think we have created a bearish flag. I currently believe more downside is a greater probability than upside.
I have had to re-publish this as it was removed by T-View. My outlook is stil very much the same.
The difference is now we have converted 1.73 and we saw a continuation form yesterday targets will be slightly lower than is marked above, but ill see how it moves and adjust lower accordingly.
Looking to see if we can confirm some longs on this pair today. We have a small ascending channel that broke yesterday, we appear to have seen a retrace over the course of last night / this morning. I personally dont think the retrace is done just yet but i could be wrong.
If this is a valid channel break my 2 targets will be 1.190 and 1.197
Looking at the possibility of a retest of 10775 where there is reasonable support correspondent with the Fibonacci 0.382 position. Also, price is under the 21EMA & in a bearish descending channel currently. The daily closed 21st July with a reasonably proportioned 'Shooting Star' on the daily. I'm looking for slight decrease in price from here to then springboard...
-Good sell opportunity on the rest of the descending channel which is in line with the 38.2 fib level which adds confluence that price could rest from that level.
- The Ema's are above price which indicates bearish momentum of the pair.
- Wait until price has reached the significant level and look for a strong bearish candle to sell this pair.