For the meantime, price looks to be contained within a channel. For the short term we could be looking for a sell trade with a build up of order at around the 0.8850 area. Depending on the Brexit negotiations (with 9 months to go) and a possible BoE interest rate rise in August, GBP could gain some strength and take price in the downtrend for the long term.
Pretty much missed all the action yesterday.
I wanted to see if price would retest the key level for a continuation, which has now happened.
There is EUR news coming out in about 20 minutes so I'm looking for price to fall even more to the downside after it comes out
Weekly,Daily (if the MA's cross),4HR and 2HR have all the MA's down.
Can't really see...
i don't like to trade all the harmonic patterns i see, especially in lower timeframe. But sometimes it happens that they satisfy certain criteria that makes me comfortable using them as entry reasons. In this case you can see that the D point is coming right into a structural zone that i've highlighted on the higher timeframe (daily) and therefore the...
In line with yesterday's bullish call, the rally from last week's low extended. But, as expected, this bounce lacked the momentum to break through, on a closing basis, a Marabuzo line from March 20th or the 13 day mvg avg. Minor net gains were still posted but it is the upside rejection that we look to begin a renewal of the selling pressure that has marked the...
CHART TIMEFRAME : H4
INDICATORS: EMA50 & EMA100 & MURREY MATH LINES
Price is below EMA 50 and just above EMA 100
We look for a short opportunity with the break below EMA 100.
Details as described on the chart.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
this is a simple harmonic pattern that's unfolding on the 4hr chart on EURGBP. It's going to complete right at a daily structure. I'm going to sell the market at the D point, in expectation of a reversal down to 0.8820 level. Stops above X, targets as shown.
If you have questions/ideas, feel free to comment below.
Otherwise, see you in the next chart!
Looking for a short of a key supply level at 0.902. Although we are in 12 month uptrend it's clear to see that momentum is beginning to drop as the moving averages are beginning to converge. Looking to short back down to the upward trend line support.
price has come back down to support and in basing which is creating weakness.
Although we have only had one violent rejection of this level I think a good clean push below would be worth taking the retest short , but need to be nimble on this trade. The FTA is 30 pips away so wil have to monitor close
Following on from successful short and a big move down after breaking through the neckline of a H&S pattern up at the recent highs, I'm still favouring a little more movement to the downside on this pair when the recent fundamentals are also taken into account.
After the most recent move down, we have been consolidating in this sideways market for a few days. We...
you can call it whatever you want, you can draw it however you want, what i see is a change of trend shown by a sequence of lower low lower lows, right after a strong upward trend. Right now i'm waiting for a retest of the broken support that could act as resistance and keep the price from rising further. You'll be updated!
If you have questions/ideas,...
there is D1 Pin bar , i play these by waiting for an initial move then reenter on a retest of the BE of the pinbar- yellow line indicate the bottom of the pin bar so will short form there but on H1 want price action to confirm at 50% fib on H1
Price action at daily resistance. ALSOOOO, the RSI is Overbought @ over 80. (TECHNICALS ARE NOW ALIGNED)
Brexit woesss!! - Too much negativity so far from the negotiations UK government are producing to EUR
Sellers should enter the market by friday. Expecting some positive fundamentals for GBP this week and next week.
$$ Take profit at a psychological number...
in front of you you see an hourly chart on EURGBP. The daily outlook of this pair brought me to such lower timeframes: we have a daily resistance here that could push price lower and we're moving in an overbought condition on RSI. This gave me reasons to believe it could be a reversal when i saw the retest failed at the first touch of that previous...
after a week of relax, i'm back to the charts today (it's good to take some rest from time to time). As usual i look for important level of structure and then i lower my timeframe in search for a reversal pattern. In this case on EURGBP we're up to a previous daily structure, and right there price has created a nice engulfing kicker that makes me think...
1.Uptrend weekly trend line broken
2.Trend trading (Weekly)
3.No major resistance until (8650)
4.Profit margin 1:3
Wait for trend line break to establish Daily Downtrend,
8781-8719 is not a major resistance zone as price action touched the zone 3 times which thoroughly indicates the weakness of the zone.