Short trade opened on FX:GBPUSD.
Upward trend line has broken. Price is now stalling around a previous daily demand zone.
- Pin bar
Price has printed a 4hr pin bar suggesting a potential reversal.
- Bearish Flag
Bearish flag pattern on the 4hr suggesting a short continuation.
The 1hr is still bullish so entry could be really early here but the...
The restriction of price movement is a strong indication of possible price breakout. Looking for possible short setup as indicated using the arrows on the chart. Definitely looking for price to break below 1.33679 level at which would indicate lower possible movements.
Bearish pennant formed indicating a continuation of the downtrend. This market is coming up to an area of resistance which should trigger some movement to the downside and make a new low. NFP later this week so hopefully out before that.
Short setup, looking for rising wedge support to give up as resistance is approached for the first time.
Will enter trade as support looks to be giving way rather than entering early. May reduce ability to pick the top but also less risk.
Short side wrong if daily *close* above resistance line
Potential for a FTSE100 short position. All time high for this index with price resisting to break 7350.00 area in january 2017. Channel forming in 2017 with prices again trying to break the 7330 area. Number of spinning tops/doji candles on the 4 hour timeframe and ma looking to cross back hinting a reversal and price drop down to 2017 support @ 7100 region.
2. EURNZD - SHORT (20th February 2017).
Another short entry for EURNZD.
Putting a lot of studying time on key levels.
Just trying to spent a lot of time in front of charts to get used to the way I look at the market and drawing key levels.
I want to learn more about price action next and candle stick patterns such as bullish engulfing candles.
1. USD/JPY - SHORT (18th of February 2017).
This is the start of my proper journaling.
USD/JPY Analysis for the next week.
Just doing some testing, I took a break from trading live for 2 weeks just to relearn some things and improve on others.
My first month of live trading was definitely a crazy one.
I started with £100 deposit, some how managed to bag £200...
I believe that eur_aud will continue to fall. Price rejected my fib level 38% level and then price started to fall hard. With continuing bearish movement. Also my MA's crossed over to the downside for added confirmation that price will arrive at 1.3250.
Aviva have been channelling down for some years and is currently in a rising wedge about to meet the long term resistance. I would expect that it will turn at the resistance and fall given how established the resistance is.
The alternative scenario is that it is about to break major overhead resistance and would be a fantastic long position, perhaps I am...