Price is making higher highs and higher lows on the lower 15 min timeframe.
I'm looking to scalp a quick day trade on this new higher low that forming. Targeting the daily r1 level.
Nice 15min wick rejection candles around the 50 EMA right now and bullish TL
I am anticipating new all time highs to be made again next week on the US30 and other equities.
Trendline, fib 0.786 and 28,500 key support level holding price now.
Long term target is DOW TO 30k baby!
After recent success buying AUDUSD at 0.68500 and trading it up to 0.70, I am now looking to wait for price to pullback again before buying. The bullish trend seems well established with multiple higher highs and higher lows forming.
My ideal entry price is 0.69200 where the bullish trendline and intraday support/resistance zone over lap. This is a good zone...
In my opinion, I believe GBPUSD will sell off from these daily levels at 1.29800. Daily is struggling to break through resistance with 3 separate tests of the price level.
There are multiple daily wick rejections here and I think Cable will now snap and sell off down to the bullish daily trendline I have drawn on the chart.
Key levels to watch:
I am looking to keep selling GBPAUD on the next lower high. It is continuing to make bearish waves on the 1hr/4hr timeframe charts.
Using the upper trendline and Fibonacci Retracement tool, it can produce some very good reward:risk ratio trade entries.
Entry Price - 1.86800
SL - Above TL and Fib 0.786
TP1 - New Lower Low
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Here is a short trade set up using my own personal strategy.
Targeting a lower low on the 1hr timeframe for over 3:1 RR
Check out my blog for my strategy and more free technical analysis diaryofafinancekid.com
-Price reached a major Resistance.
-Formed another area for entry.
-Looking for price to move into a downward direction and a candlestick pattern to also suggest the price reversing.
-Price has also created a 3 impulse pattern to further confirm a turn around:
-Long wick formation on support suggests going long until 1.22040 and rejection of TL back down.. or market re-opens and pushes through support to continue short.
This coincides with my EURGBP analysis, as GBP loses its value, we'll see the opposite for EURGBP.
In relation to my previous idea, I'm still in agreement that the overall outlook is bullish and Gold will rise to 1560 and beyond, however due to the rise of USD and a 50% retracement of Gold's current price, I assume price 'may' break support to find the 1480 usd level before turning around. (May is the operative word).
Following the brief sell off the week before, sellers dipped their toes towards 1.2000 and failed
Buyers spent all last week slowly pushing though and break through two levels (marked Resistance Level 1 and 2 on the chart).
Seasonal wise, we have approached a point where the weighted and all-time seasonal trends diverge
Given how oversold GBP is on all the...
Buyers made a break for it early last week following a period of consolidation
Looking across the major charts, the move up is more to do with EUR weakness rather than dollar strength
Expect a continuation to the upside with the EURUSD and possibly USDCHF charts as the best ways to buy dollar
Should price break the August Swing High then look to target the Monthly R1 Pivot