We have almost realised the full move from support to resistance here, relatively bullish for the whole stint. Pretty much all swallowed up during the eastern session.
Certainly a region we could anticipate a relief rally and another S/R wave back down from 1.68 to 1.66800.
Seeing a break of 1.20 support here on fiber, big support price zone to break. This gives me a little subtle confidence with regards to the GU short I've taken, hopefully we see cable follow similar suit.
Lots of good return setups here all pretty much in excess of 4R which is brilliant.
Missed the top entry as I've been too focussed on crypto markets today, however this circa 300 day trading range seems like it wants to see another range fill.
3425 down to 2950 could be witnessed again with a huge 1:11R potential if we push 3400 again, I'll look to grab an entry. ALERT SET!
Really strong start for the GBP so far this morning, DXY on the up, but so are GBP pairs. Would like to see a strong close above 1.38 and subsequent pullback so we can look to position ourselves long from this region.
USDCHF H4 - Quite a clean S/R range with an interim S/R zone where we have seen a 2 stage reversal, we've continued to set new highs, looking for price to see a test of major resistance if these USD risk markets keep pushing up. YEN is still seeing strength and DXY is now trading above that 93.30 zone after retesting effectively as support.
EURGBP H4 - Support zone actively breaking, H4 candle has just closed, looking for some sort of pullback to resistance (previously support) at 0.91, now we are trading below 0.91 so generally bearish bias for the moment, especially after breaking support and the downside market gap. GBP starts the week strong!
EURJPY H4 - Little reaction from 125.400 support region, bounced 20 pips in quite quick succession, if support holds this may be something we look to buy. Not entirely sure of the EUR still, seemed to have lost a little ground since market open on Sunday, but not near as much as GBP pairs. If support holds a while on EURJPY and EURUSD (1.18 support) we could...
We can see EURUSD has made a sharp fall to the downside, the first take profit level has been breached at 1.09456.
Now that price has fallen and closed below the first take profit level we will be now looking for our second take profit level: 1.05737. In addition, we will wait for a retest of the new resistance level and then look to sell it off.
Very basic set up. I believe USDCAD is going to sell to the 31.8 fib level, which is also in confluence with a mini structure level: 1.33440. Furthermore i also believe its going to sell off as you'll notice its at a key resistance level in which its rejected 3 times already : 1.34131. Moreover, its also decent risk to reward oppourinty.
I believe we are going to see Eurgbp make a move to the upside towards the 0.92523 level. As you can see we've already had a spike at that level previously in September, the market has pulled back significantly, which i believe is only a breather in preparation for another rally to the upside.
Moreover if you look back, you'll see the 0.88285 level acts as a key...
I belive Eurusd is going to head back into the 1.14586 area to retest a key support level. Currently price is in no mans land. Once price reaches the key resistance level drawn in, we will be looking to sell it off to our first take profit level of 1.09456.
So for now this trade is going to require a lot of patience, as we will not be looking to do anything with...