Hi guys,
here we have a nice 2618 on a trend continuation setup, You can see we broke to the downside the last support level (black line) and now we are retesting it. We know that when broken, support could turn into resistance. In addition price is finding some troubles at this level.
We have a double top with rsi divergence that's been broken to the downside. So...
Hi guys,
today i want to share a view similar to the GBPJPY one.
As we can see above, price has been clearly in a downtrend lately. Now we are heading toward the former resistance level that could turn into support. So we've created a little blue zone, in which we are going to seek for shorting opportunities in lower timeframes.
The risk to reward i put down in...
Coned upwards and now no where to go, if RSI not there and the blue S/R stay key, it should retrace back down. Target 1 is at a below a previous point of consolidation and T2 again, previous consolidation.
Fingers crossed, new to this!.
Feed back is encouraged.
GBPCHf just completed wave A in the elliott wave sequence and now by the looks of the rsi it should be coming down for wave B and than up to wave c to come up to the 200sma in the next couple of days/weeks
This pair completed a 5 wave cylce upwards and broke bottom TL. After we can see a double wave retest of the broken TL. Sell here market in order to follow a double wave cycle towards support @ 1.3920 SL above last high 1.4215
GBP/CHF looks like it is making a contracting triangle in the wave 4 position.
So far I have labelled this triangle as being in the middle of making wave e which is the final wave of an Elliott Wave triangle.
I will be selling on a break of 1.4660 looking for an initial target of 1.4509 (38.2% Extension of wave 1-3)
The second target is 1.4317 which is the...
