I am looking for either a break of the DAILY descending trendline and retest on the ascending 4HR trendline. With both of these potential set ups I will looking for either that bullish or bearish cande close once they react off of an area of strucutre. I will be looking to have a confluence of having a reaction off of fibonacci levels along with those levels...
Another SHORT on the GBP I have. Looking to enter tomorrow with the right confluences to make the trade more in my favour. I am looking retrace up to the pevious level of support and a touch on the descending trendline. I want to see a bearish candle close when touching these levels otherwise I wont be entering. With the reaction off of the previous support and...
Hey Traders! NEW week, NEW opportunities
For the past few weeks we've seen a strong uptrend in the strength of the GBP. However, we can now start to see a weakness in the market. The daily ascending trendline has just been broken and we have begun to see a new descending trendline. What I am looking for is confluences to see this market head to the downside and to...
Just to reiterate, Looking for price to push up into the fib level and wick or push up into the zone before taking shorts. I have placed a limit order on this area and I will come back to potentially place more orders hopefully some instant market execution orders. If I do want to place IME (Instant Market Execution Orders), I'm looking for price to reject the Fib...
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Currently watching price pull back from Asian/London cross movement. Expecting bullish trend to continue and ease of U.K. lockdown may be announced Monday.
Trade plan for the day is to capture two 30 point movements.
1st will be if price reverses from 50SMA with buy signals. 2nd after another pullback from that move.
Timescale would be the 1st during London’s...
Short position setup.
3:1 trade ratio + 2 pips to cover spread
Short opened at 05/05 15:43 GMT+1 1.24519
TP was extended to new target
SL moved to new position
MACD histogram Turing red indication bearish pressure
The price is bouncing off this S/R several times, it is likely to return back down from the resistance towards the support however there is a small chance that it will break through the resistance. Possible profits to be made!
This is a 2H time frame set up. I show how this could be worth a shot south or a shot north (subject to your acceptable loss).
The estimated probability south is 55% - which leaves 45% for the north.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in...