As reported in my previous post on this pair this is now coming close to resistance. The blue line indicates the lowest point of the old support which was obviously broken and now should act as resistance. I want to see this reach this price and rebound lower to the next target. Need to wait for the price to show it is reacting to this level before entering a...
Long EURGBP @ 0.86
TP: 0.88
SL: 0.85
EURGBP has bounced nicely off the 0% fibbo level (0.85390) which suggests that the low is in place for now. Im looking for a correction or retracement that will take us up to the 50% fibbo resistance or 0.88 level. GBP has been very strong of late however I think it has run out of steam up here and we are starting to see...
Like a lot of pairings at the moment this did not make a retrace and continued straight to the next support/resistance level. This touched the next TP price I had set but without the retrace I could not enter the trade.
Now the plan is to wait for a retrace as this is very overbought. A retrace to around 0.5 Fibonacci would be good but we need to see the rebound...
This hit my TP yesterday, I now want to see this retrace so we can enter another short. When viewing on the weekly and daily timeframes you will see this has been on a big drop without a retrace and we are now at a support level. This is why I feel it is a good time to secure profits and wait for a better position to short again that will take us past the support....
The overall bias on this pair is bearish, however, I will be looking to fade a trade back into the key previous structure before I attempt to sell it off long term.
There is no denying that this pair is creating stepping down structure, however, It is likely that selling traps will be in place.
I assume many would be selling from the break and re-test of the most recent structure, I will be waiting to get involved in sells from the order block just above it.
This is breaking through a big weekly support level. Best time to enter a short is on a retest of the support now acting as resistance. This will give the safest trade setup, for a SL the highest previous point is too high for a good risk/reward ratio so it can be just above 0.618 Fib. TP is at the next support level downwards.
As I said best entry is to wait...
This is at a big support level. I previously posted that this was in a range from this support and the upper resistance. Now we are at this support we need to see if it can hold before rising or if it breaks and drops. It has had a lower closing candle on the 21 Jan so there may be big pressure. I would keep a close eye on this and if it does break the support and...
The Alkaline Team took a trade-off the 4-hour order block after the support breakout, which landed us in smooth profits. We would like to see one final push up to target the liquidity above the resistance, let's see how things go at market open.
Hey guys!
Happy new week! I know its MLK day in the US, so their markets are closed, but that does not mean there are no opportunities in the markets! - We actually took home a few winners already, and I think we could get this one too!
Ok, so this trade is based on a few ideas, and here they are:
Price is at a strong support level
Possible H&S pattern, seen...
A downtrend is likely to reverse now as it is having multiple touches in downtrend and now it touched the weekly trend line and a strong bullish candle is formed in 1H time frame , put a buy limit few pips above the small 1H structure amd then be patient 🙌
