kingofcurrency

growthbank

Monthly & Weekly : On the monthly timeframe we don’t really see any clear trend. There was a trendline that was broken, so it’s safe to say that anything over this trendline is bullish, however we are stopped by the monthly resistance zone that has been respect for the past 4 years. I have noticed that the resistance zone also falls in the same place as the...

growthbank

I started with a top down analysis and noticed that according to the weekly time frame, this pair has reached it's support zone. On the daily chart we have seen that price has formed a double bottom testing the support zone. On the H4 we have seen a downward facing flag formation, and according to proper market structure we are expecting a bullish movement to...

growthbank

When I trade major pairs like USD or JPY, I notice a more stringent market structure formation. Very rarely do these major pairs not follow market structure rules on higher timeframes. We see a clear bullish movement according to the horizontal support line. I'm looking at an entry at the last retracement wick, which beautifully touched the 61 line on the fib. The...

growthbank

According to top down analysis, the D1 has started to form a triple top formation. I see price retracing back to the 61 on the fib, which also happens to be the cross formation of the alligator indicator. We are going to wait for price to retrace back up to entry, and then we should see bearish moment continuing.

growthbank

GBPCHF is currently approaching the last lowest wick support zone. The pair has also formed higher highs on the D1, so I am expecting a double bottom to form at the support zone, and go into bullish momentum. Stop loss is tight so we are looking at a solid basic support to resistance trade, according to the upward trend of the pair.

growthbank

We are looking at a bearish pennant variant on the D1. I am expecting price to continue selling towards and eventually past the horizontal support line. Price has currently attempted to touch the major resistance zone, and missed it by a few pips, indicating that this pair is preparing to break structure and turn. My sell limit is assuming that price retraces to...