Potenitial bearish setup.on the 4hr timeframe i saw an ascending channel which which broke to the downside which was below the daily resistance i had drawn .
Bearish Head and Shoulders Top pattern Completed on 4HR time frame at the end of an upwards move, signalling a reversal.
The Negative Neckline was then Broken @1.24540.
Pullback formed towards the neckline, this is a .618 retracement of Swing High to Swing Low of Neckline Breaking move, the golden mean.
Equal Measured Move is Lining up with 1.68 Extension of...
Price action on the last close shows a Bullish engulfing candle which is one confirmation that the market has strong momentum and swing towards the upside. Confluence on the head and shoulder pattern which indicates a long position. Looking to go long on this one! FX:EURUSD
Obviously I like the inverted one and it's on a higher time frame right. Of course nothing is valid until it completes, yet the bearish one has completed.
another case of an inverse head and shoulders price continuation, price to push back to 0.63493 to find support (AS PRICE DOES ALWAYS AND SHOULD) this is the anticipation. if reversal to happen at that point. T.P.1- 0.64399 safe place or set .P.A to watch if the Case is that price will continue upwards (and you have the patience to wait for T.P.2@- 0.65381 sweet...
EURGBP has finally broken the daily ascending channel. the 4H chart has already shown a small retest for the trendline before falling lower however I believe we could come back 0.9000/0.9010 price point which could also retest the trendline before melting. I'm personally looking at a sell target of 0.8850 however we could even see price return to 0.8790 which has...
