Yesterdays candle closed as a very promoting SS (shooting star), this was seen after a convincing move higher towards a slight daily level. This SS gives me confidence that price will reverse and go down to the untested level on the daily (5th April). We can see that if price comes back to the level now without a move lower we will have 61.8Fib confluence (very...
Bullish pennant formed here, expecting price to break higher. Any break below would see 1.31 which is a fair way down. With the DXY looking bearish doesn't look likely either. Potentially longs on the 61.8% and then again once the daily resistance and key 1.40 level broken.
Morning ladies and gents,
With EURGBP weakness, pushing downwards off the H4 Bearish Orderblock and EURUSD pushing downwards off the D1 Bearish Orderblock. It's possible to assume that G strength is imminent.
Above we see three sets of equal highs being created, this is a high volume area that price was likely to reach into.
GU traded down into our D1...
bearish- Looking for either a double top or lower high for entry on sell. However over the past couple of days we haven't seen the bearish pressure as before and gbp has been holding well.
bullish- i'll be looking for breakout and retest of the nearest resistance level. Most likely ill be looking to the h1 and m30 timeframes for optimal entry if this is the move...
This is what I'm looking for next week. Dxy breaking key levels and pound in the bin as a result especially with EU blocking vaccine exports to UK.
Lots of confluences for price to react.
3rd Touch of channel
Clear new LL's LH's structure
Target is the 800ema and 1.35 key level
A break above the channel see's buys up to 1.41 but...
I can see a large 4HR Accumulation on "Cable" This is the Wychoff Accumulation 1 schematic. I have setup 2 different trades one targeting the initial break of the descending trendline and the other is targeting the previous weekly high.
GU seems to be forming an inverted head and shoulders pattern - Im in off break and retest of the neckline and will look to scale in once zone breaks and retests. if you want to wait for more confirmation from then on then feel free but trade at your own risk.