oh man this looks good. will be following my normal plan. break and retest.
1.i need a 4hr close below this zone.
2.wait for retrace into zone.
3.wait for confirm candle.
4.execute sells if you get a bearish candle or something like a doji which will show you indecision in the market.
Remember, this current 4hr candle will pullback as it gets nearer to close it...
Our 1st green line could be 1st sign of resistance ( 36 pips ) on this trade as it has been used before, but our yellow box is the target on this pairing ( 100 pips )
Plenty of bearish movement about at the minute, so this should be a nice quick trade.
Our purple arrows mark out where price has previously hit our support and resistance zone ( because we are nice...
1.72507 is a key strong resistance level as we show with our purple arrows where price has respected this level.
1.70319 area was previously used as resistance ( blue arrows ) but more recently was used as support ( orange arrows )
Price is currently sitting at resistance so again we are expecting it to respect this and bounce making movement to the downside,...
very easy trade here. There's a Bat pattern completing right now on this 4H chart and i'm going short, with stops above X and targets along with Fibonacci (0.382 and 0.618 of AD). Positive note: price is in overbought and divergence conditions on the RSI below.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
i've been looking at this pair from last week and this could be the right moment to enter the market, according to my trading strategy. We're testing a very strong resistance and we've seen price slowing down approaching that level. And now you can see a triple top that's forming on the 4hr chart. I'm entering now with stops and targets as shown. Be...
GBPCAD is already in the blue box suggesting its recent pullback is complete or very close to being complete. A number of technicals suggest t still has one more push higher to go. The wave count is on the chart showing one more dip before finally topping. This wold agree with the position of the GBPAUD which is still short of its turning area and these two...
A bit late with the Post
i believe this is a high probability trade especially with the weak pound being displayed across the board.
All time frames signal further downwards momentum with the weekly and monthly showing bearish sentiment.
Upcoming elections also suggest the weakening of the pound as high levels of uncertainty are being displayed investors May...
pound has been really strong over the past weeks, it's a bit risky to trade against it but i cannot help but make my usual analysis and trade it. The daily structure is represented by the blue box, plus the RSI in the daily is way overbought. So this is what i'm looking for when i seek for a reversal: as we go down on 4H timeframe, you'll se a nice divergence...
Hi guys, on the daily chart on GBPCAD you can see price is bouncing back and forth between two levels of structure. In consolidation periods like this it's quite frequent to see harmonic patterns unfolding. I think this could be a nice trade.
Stops above X, targets as usuale for patterns.
If you have questions, or simply share your view, you're welcome in the...