on the gbpcad weekly, price seems to have hit major resistance zone. Possibly a h&s pattern could occur. Going down the daily and 4 hr chart prices has seemed to have made HL's and HH's. HH has seems to have touched major resistance zone and I now believe that price will start the create LH's and LL's if it breaks out of the trend. Plus ma crossover at the...
on the gbp/usd. I see an ascending channel on the 4hr timeframe. overall bias is bullish with support line being respected multiple times and price is forming higher highs and higher lows, I am hoping price creates another HL to support my idea. 4hr/1hr timeframe shows a lot more of the channel and a lot more in-depth details about entry and take profit.
Hello Everyone, I appreciate the feedback that I have been getting this past couple of weeks and something I that I been wanting to share with y'all is one of my confirmation. I know you will do your own independent reseach on this and I wish you the best in your trading Journey. Thank you. Ps. I'm looking for a new HL point to get a new HH.
IF WE SEE BREAK PAST ABOVE HIGHLIGHTED AREA , I CAN EASILY SEE THIS PAIR REACH FOR NEW HIGHS @13.7
Forming HH,HL on 30 min & 1 hr timeframe All indicators supports upward movement. Comment your ideas.
My long trade, price broke out of my purple zone and also its on its way to making new highs. 1.556 TP 1.51045 SL
NOTICE HOW MARKET CLOSED UNDER PREVIOUS HH,HL . HH,HL REPRESENTED BY THE RED AND GREEN FOR LH,LL . MAKET STILL UNDER 50EMA. LOOKING FOR MARKET TO TEST 4H SUPPORT AND BREAK TOWARD DAILY SUPP . LOOKING TO TP@1.618FIB
Throughout 2016, Aud/Usd always trends HH & HL just before hitting the .77 mark then we see a crash to the downside. Early 2017 its repeating the pattern, creating HH & HL, we could see a big move to the downside in the next few months to come
MY VIEW: STRONG SUPPLY LEVEL HH, HL TREND CONTINUATION FORMTION 0.618 FIB % RETRACEMENT DAILY CHANNEL STRONG MACD DIVERGENCE RSI ON OVERBOUGHT SIDE
PRICE ACTION TRADING. FIRST STEP Draw the channel. And check how the price moving. HL- Higher low HH-Higher high LL-Lower low LH-Lower high STEP TWO Draw the support and resistance lines. PRACTICE,PRACTICE,PRACTICE AND PRACTICE
1.Daily MACD hidden divergence and zoomed to H4 MACD hidden divergence. 2. HH, HL formation. 3. RSI is Overbought. 4. 50% Fibonacci Retracement. 5. Strong daily resistance zone.
Potential set-up for head and shoulders pattern. Buying the right shoulder.