I got caught in a failed sell last week from the order block.
Since the price is deciding to continue higher, it leaves me no option but to consider the possibility of the last high wipe.
I would like to see a push above the last high before we see a collapse.
After a strong bullish performance on GBPAUD, we encountered a wick spike to the upside caused by NFP, most likely wiping out the sellers who were fighting the exhaustion of the move. This could be the catalyst to create some downside momentum to fill some of the voids.
Looking for this to turn higher at the current support level. Keep an eye on MACD and EMA's and possibly 1HR timeframe as well for the point that this holds up before turning higher. Its possible to slightly overshoot the blue line I have drawn in around 0.382 Fibonacci before turning.
Setting target at the previous high of 1.80100 for now. Need to see that...
Bit late to this one unfortunately, was going to post about it yesterday but didn't. It has given up all its gains from last weeks spike and filled in most of the daily wick and is now turning back higher. MACD and EMA's have this pushing back up to resistance at 1.80235. From there wait to see if it can break above.
This has been due a correction and it is now doing so. This brings the chance to look for a longing position. It is close to 0.382 Fibonacci, just below this could be a good time to buy as it aligns with structure. Need to watch the price action as it could fall to 0.5 Fib as well. Use MACD and EMA's to help judge when the mood is changing back to bullish.
This is at a big support level so looking to take a long position soon. MACD is showing on the daily that this is still bearish as it is below 0. I expect this to drop slightly from its current position, if it meets the support area marked in blue then that could be a good entry point with SL just below the lowest point of the support. TP is set at 0.382 Fibonacci...
Price is currently respecting the trendline and was pushed back towards support, very little movement so will wait for a break and retest of this structure before buy to the top of its range
May place a second long trade as price is looking very bullish
1.77000 was a key monthly level, and also a lovely round number so i had an order set here and the bears pushed price down to this level perfectly before bulls took over pushing price up 700 pips! My target zone is 1.88000 as you can see on the chart, again this is just another key level at a lovely round number.
Who said trading has to be hard? That's rite the...
Price broke through support only to retrace back to it and is testing the 50.0 Fibo level
There is a lot of divergence on the lower timeframes confirming a possible change in trend, I suspect that price will consolidate for a bit only to bounce off towards the next level of resistance
Based on previous price action and divergence I can see that price will drop down to a previous level of support before shooting up
I am currently in the sell and will update when price reaches support