Nice and simple double down candle on the 4h chart with higher high candle containing red wick. Price action should support the drop. RSI overbought as well.
Marked my tp and sl for you.
Let me know your thoughts.
Looking for a short risk entry at at the top of the bear flag to the downside.
We can see heavy impulsive movement to the downside that is then followed by corrective price action forming a bear flag continuation.
30-45 pip stop with about 10 to 12% reward if it meets the profit target at the beginning of the channel.
GbpAud gartley on the 60 with a potential to extend targets if you are someone looking for retest of the lows. I would be slightly conservative take T1 at a conventional 382 and then T2 will be at that retest of structure
gbpaud is in this triangle pattern on the weekly. Price than consolidated on the daily with price creating a bear flag.
1hr shows a breakout of that bear pattern with hopes that price retraces back to the 0.236/0.382 retracement zone.
Extremely messy pair recently with an unsettling sell off now reaching support level 1.812. price has created a major double top pattern so this support could be broken and head further only after confirmation. if the pound gains strength over the next few days we could look for a short position at this current resistance level 1.83 as we cant see any long term...
Similar trade setup to my last post, We have a strong TL formed that keeps getting respected and price is at a key level.
So again this is another really good trade to keep your eye on to see if price breaks either our TL or respects it and breaks strong support, a break of either should produce explosive bullish or bearish movement.
This trade is like having a...
Price is showing increasing pressure from the bears and has the potential to retrace the marked grey line which is 50% fib level of the bearish impulsive move. From there, i can potentially see the bearish move continuing and completing 100% of the retracement at the green level which is the marked take profit. I will also be looking out for bearish...