A simple trend continuation trade with a great risk reward profile.
Additional confluence added where price capped at the 76.4 fib retracement along with structure and daily fib levels.
Trade safe
GA formed a shooting star on the daily at the 78% fib with a lower high failing to break 2.10000
Targeting priou support then 2.00000 if it breaks (fib Extension)
SEE ANALYSIS FOR LONG TERM REVIEW
- BEARISH SETUP IS PREVAILING - ON BREAK ON MAJOR COUNTER TRENDLINE - CONSIDER LONG TERM SHORTS!
- MANY CONFLUENCES ON LONGER TFS AS WELL AS PRICE ACTION ON SHORTER TFS
Hello traders!
We have a very good shorting opportunity on #GBPAUD. As we see the market is in a bearish trend and it is a good moment to go short at the structure level around @2.0953. There is a confluence of fibs and bearish divergence.
I see this level is very strong and it will be hard to break up. If the momentum will slow down, and I think it does, we...
A potential H & S short play on the Daily for GBPAUD.
If we have a break and hold below neckline the measured move conservative target is ~ 1.9610 as indicated by arrow down.
One to watch.
* Conservative (candle close, not topping wick taken as high for measure)
Can also use Bulkowski's target criteria for H & S if you wish - thepatternsite.com
Hi All, just wanted to share this potential Bearish Bat Pattern
As always Entries Stops and Targets
Red Line Minimum Stop Level
Green is our entry point - keep in mind you may want to front run to get filled.
Blue Line are T1 and T2 standard 38.2% and 61.8% - you may extend or reduce targets depending on structure
Thanks and good luck
What to expect, the market presents us with a number of alternatives, but we just have to be on the side of one of them.
Bearish Pattern objective: Short at D
Safe trades;
open.spotify.com
Adding further to my previous analysis about this pair, there seems to be a head & shoulders pattern emerging. I will be taking a short position If the next few candles close below the neckline. If the price crosses above the neckline, I will wait for it to get to the next kill zone which is the top red trend line.
A vicious Gartley pattern which is accompanied by a Butterfly at the upper range of the channel points to a bearish move which will put and end to a multi-month rally, at least temporarily.
Good luck,
Right - This pair has been in a steady uptrend pattern since September last year respecting the upward trendline beautifully. However since February this year we've seen successive lower high's being formed, whilst still respecting the upward trendline.
The formation of this rising triangle means we could we a break to the top or bottom, however given the...
