A nice structure based wedge has formed along with a nice pullback. very nice risk:reward on this trade, entered slightly late but still very high reward. leave any thoughts or ideas in the comments and happy trading:)
Hi guys, another 1 hour double top has occurred with a pullback, entry reasons met. my last two have been losses so theoretically there is a higher chance this will be a winner. third time is a charm, lets see how it plays out
i have found a nice head and shoulders pattern based upon rules i have created in order to read structure. currently sat back watching and waiting for a specific candle stick pattern within its current pullback motion. exits i will take are on the chart however my stop loss may change slightly depending where my entry reasons are met. once something has changed i...
As we discussed in our previous post EURO seems to be topping out as CANADIAN DOLLAR remains dominant against a number of currencies. Looking for further downside to come in this market. If price can continue to the downside and break the support level of 1.4444 this market has significant room to the downside.
Traders we have been watching EURUSD for a while as it struggles to break above its previous highs and is sitting within a weekly resistance zone. We are looking for a break below the daily lows for opportunities for a short position. Weekly chart suggests a weekly retracement could be playing out.
FOMC last week stated they expect to hike rates 1 more time this...
At the 240M the second shoulder is about to form. Looks like price will form a candlestick pattern on the 240M which is a Double Top on the 60M.
Shorting the second shoulder for a "neck break"
Going long in support until the rebound to the neck then
Short trend continuation
There is nothing new under the sun.
On the weekly this pair is currently in a downtrend. Price is resting at a critical resistance level. The will tell if either:
- the 382 holds, hence the pice forms a double top and then continues its downtrend or
- the price will form a complex pullback in form of an ABCD pattern and hence provides an even better short entry...