My EUR/GBP Perspective. Be patient and let the market come to you. I'm waiting.
*Break of the inner trend line on Daily TF. * Fib extension Levels on daily in confluence with Weekly Fib retracement levels highlighted & Resistance zones. *Bullish engulfing candle of C.T.L WHAT DO YOU THINK?
Ive got a short Bias on this however the weekly candle is a Doji so price is still unsure. reason for my short bias: -Double top rejection at 1.14 resistance area. -M.A to downside -Lower lows and Lower highs as price has been falling. - Lower high on C.T.L touch in confluence with 0.5 FIB Retracement so L.L expected -Daily close below Resistance 1.09 area My...
As you can see it seem we have a got a break out of the channel and price is now potential retesting the channel be for enabling a move towards the downside. Another confluence for this is the head & shoulders pattern (POTENTIALLY) forming but then again the break out could just have been a false break out manipulating the sellers and price could resume back to...
So moving forward from last week my 1st target has been hit. News came out on Greece in which they have an extension for the payment owed which the extension is now 4 months instead of 6 months causing a strengthening in the euro vs usd. on the charts last week we saw a push upside to which hit my target 1 as they say technicals don't lie. Now on my technicals i...
This is my chart for the week. As you can see price has now been capped by the FIB 0.61 Retracement zone and has broken my downward trend line. Price is now sitting at the yellow barrier highlighted in which i can see two scenarios. For me to go long i will need a clean break and close above the barrier on the daily TF and for a short trade to be warranted i...
I am currently looking at a retracement to the downside in which my targets are outlined. once my downside target 1 has been hit i feel we should see the momentum back to my upside targets. We can potentially break below the OUTER T.L and hit the yellow barrier highlighted which will be a retracement the 0.61 level which is a confluence before price makes the move...