short term buy setup here, waiting for small pullback to long. only taking a small position due to the added risk of a small timeframe but this has the potential to go far as the longer term trend is up as well.
The pound seems to be in a very large flag pattern, but a mini triangle pattern, so this brings about the perfect swing trade,the 200 MA will provide resistance and so thats the stop-loss, but the short is when the Pound drops below the 100 MA till the lower support trendline.
The EUR/USD will most likely increase in price to the 200 MA and the 100 MA will provide support, as shown in the past, furthermore the CCI seems to be in a ascending triangle pattern so there could be a short-term increase in price coming up.
The Ftse 100 has been reacting to recent events like article 50 activation and is highly volatile.
But the price is a new fan area so could represent a trend change, furthermore the price broke out of the ascending triangle, and now if the price closes below the 200 MA and the trendline - short.
for those of you who day-trade advanced pattern formations there's a Gartley pattern completing at 1,0904s on 15m AUDNZD chart. I'm already involved with this pair (see attachment) so i'm not taking this one, but i wanted to share with you anyway,
Stops above X, targets as usual for pattern (better risk/reward ratio with such a deep Gartley).
If you want...
Well formed channel on 4H chart.
3 consecutive bullish weeks for usd/chf
Daily MA shows upside momentum
Pin bar formed around channel low on daily chart , followed by bullish engulfing bar.
We still dont know if the price will rally for new highs , the confirmation we looking for is 4H chart MA cross and start scalping on 15m chart in the way of the trend. If...
Strong rally to previous Supprot/Resistance
Strong pin bar + closing below bar`s low.
Trend line rejection
Daily pivot R1 rejection
61.8% Fib retracement
15m momentum down
Taking profit at 50% retracement level of the rally