There's a high chance that price might react from 1.73500's psychological level, only to finish its major corrective move and to begin an impulse one, to the downside.
Going to the lower timeframes, we can expect to see price giving signs of a reversal, from that key level, breaking previous structure lows. But, before that, price might be manipulative....
Price was correcting , making a lower high, until momentum kicked in, breaking through previous structure lows and the 'bear flag'.
It should respect the higher timeframe's channel, since it has been doing it for the past several days. So, odds are on our side.
We should then expect a reversal, only confirmed by price breaking previous...
We swear banks brought out all the rubbish on the internet to confuse people So they lose money.
Keeping it simple is so much easier and profitable. Just get good a drawing naked charts.
There's a short coming up at the key level. We will watch for price action and update clients.
Looking to add another position to this trade.
I am not in it as yet and I am waiting for the price to come back to this level it has found support at.
I will update if I am entered.
My first entry has 1% secured.
1750 level is a key level I will offload my positions
Monthly price is making lower lows. Weekly has broken down underneath previous significant level. Identical number for the neckline on the weekly & daily going back to the middle of May 2010. Daily has retested that neckline and given a bearish daily candle and a rotation in the correction up. Looking for a shorting opportunity at 0.86527.
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