Reasons for -On the four hour we have been testing that upper trend line for some time now and price simply aint breaking it -Also we are putting in Lower Highs A sign of change of trend and a reversal -We also have broken our Wedge to the downside which confirms bearish momentum -We have also Held at the 0.618 Fib levels numerous times from the highs high on...
AWAITING FOR THE PULLBACK AND PRICE ACTION, PRICE LOOKS EXTENDED & COMPRESSED
Reasons for -After huge move and break out of box range a week ago price has risen and become very bullish -Therefore i believe it will continue to rise till 1.15000 -To confirm is bullish strength it has made higher highs -And higher lows -Creating a structure -Also on the four hour we can see a long bearish wick to a downside which shows more buyers then...
Falling wedge with 6 hits (currently). Looking for a 7th hit and will be watching closely for a breakout on the 8th. The length of this wedge suggest to me that there could be a strong breakout.
Reasons for -As you can see we have Lower highs and lower lows -This shows us a clear down trend on the daily Timeframe -We have bounced from our key level at 2.00000 and have found some bullish momentum -As you can see we also have our trend line underneath Price -So essentially we are still up trending on the higher timeframes -The past day put in a long...
Reasons for -We have broken our 4 Hour trend line to the downside -Therefore we have broken structure and i 100% believe that after the break we are headed down -We are going to get a impulse wave and this is a strong setup - after all the long term trend is bearish ! Yes weve had two small losses but we are going to make it back on this one ;) Also this is...
-IM STILL BULLISH ON THIS PAIR AT THE MOMENT -FIB 0.618 MAGIC RETRACEMENT IS THE AREA I WANT TO HOLD TO SECURE A LONG -A B C D STRUCTURE HERE -THE NARROW BLUE BOX YOU CAN SEE IS A KEY LEVEL HAVING BEEN STRONG RES NOW SUPPORT -FIRST TARGET WILL BE WEEKLY RES 1.4760 IF THESE ARE HIT WILL TAKE PARTIAL PROFITS AND THE NEXT TARGET WILL BE FIB LEVELS.
-BULLISH HERE -ABCD STRUCTURE IN PLAY -WEEKLY SUP HELD -0.618 FIB HELD -UPTREND
-WE HAVE HIT A MAJOR MONTHLY SUPPORT LEVEL HERE -PROVIDING WE HOLD SUPPORT THIS COULD BE THE OUTCOME.. -THIS IS A GREAT RISK TO REWARD TRADE -FOR A REVERSAL OR EVEN JUST A RETRACEMENT 0.618 AREA -STOPS AS SHOWN -THE POSSIBLE "C" AREA IS A KEY LEVEL OF RESISTANCE SO WE EITHER BUMP OUT HEADS ON IT THEN INTO SHORT TRADE OR BREAK THROUGH. -IF WE HIT RES AND TURN...
Reasons for On the 4 Hour -We have been bearish since the trend line putting in nice big bearish candles -We have broken our counter trend line -We also have nice long wicks on the upside -This shows me there is more selling pressure On the daily -Firstly this is a long term trade -We can see price is down trending on the lower time frames Always go with...
Reaons for -Firstly we are forming a triangle -We have just bounced of the trend line with a bearish engulfing -Also a bearish hammer has been put in place -We also tested this area a on Thursday and rejected this zone there fore i believe it will do so again Price action leaves clue in structure :) If we go to the daily Timeframe we can see -Lots of long...
THE MAIN AREA WE ARE FOCUSING ON IS THE RED CIRCLE AREA, COULD BE BEFORE COULD BE AFTER -ABC AND D STRUCTURE POTENTIALLY IN PLAY -THIS LINES UP PERFECTLY WITH MAJOR MONTHLY SUPPORT -FIB 0.618 RETRACEMENT -TARGETS WILL BE FIB LEVELS
On FX_IDC:EURJPY , the price dropping last few hours; sellers are in control of the market and the question is where is the zone, when the buyers step in and sellers start taking profits? The markets is going upward on 1H bars, as it did Higher High and Higher Low swings. The next structure low is around 131.255, which is our key zone. There is a trendline...
After a slow week another setup 1.Break of long term trend line 2.Break of strong RES level. 3.Numerous tests to try break back through trend line to down side but previous RES acting as support now 4.Bullish engulfing taking out the past 20 hours of price action