Wait for the trendline to break and enter with stops above the current correction
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We're currently at 1.37 once again. We tested this level yesterday and saw a strong bearish bounce off the level. Will we break this level today?
In yellow highlighted circles we can see all the previous tests of 1.37 and strong bearish rejections. This is combining a key level in the market with a whole psychological level that often acts as additional support...
Here we can see price is trading in a flat channel highlighted with the black horizontal lines and our green highlighted rectangle. Price is contained in this area. We are waiting for price to breakout to the downside on this pair.
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What have we seen on this pair?
We've seen an ascending trendline broken and retested acting as resistance.
Following this we've seen a strong bearish move.
Will price rally up to our highlighted key level before more sellers enter the market?
Happy Trading! Simplicity is Key for longer term structure!
GBPUSD H4 -
We are still trying to break above that 1.37 handle, USD weakness again as we crack beneath the latest s/r zone on the DXY. Analysis to follow.
1.37 is the latest breakout high... as well as a whole number resistance price. From 1.37 down to 1.36 offer 1:5R, looking to capitalise on this if we approach 1.37 with reversal signals, lower timeframe...
A nice trending move so far on the way up - displayed previously on this ideas section 400+ pips on the H4 timeframe. Sell trade is now confirmed.
We will soon be upping our ideas again, once our optimisation testing is complete.
If you have any questions, feel free to drop me a DM.
Thank you
Darren
We can see we predicted a break of this level and a pullback up to test the level as resistance.
We have seen this. Lets watch and see how price reacts at this level. Will we see further downside movement off this level?
Happy Trading!
Gold sell - new sell trend identified by our Edge Algo. 📈
SL and multiple targets shown on the trade itself.🎯
BTW, I did nothing with this analysis - all done for me whilst I stand in queues trying to get my last few bits of Christmas shopping. 😎
Systematic Algo trading at its best.
Merry Christmas all, catch you after the big man has been.🤷🏻♂️
Or...
This is EUR/GBP on the Daily Chart.
We can see price has respected this level of support since May 26th 2020.
Once again price has tanked down to our support level and bulls have been sitting at our support zone - we can see price starting to move away from our key area yet again to the upside.
We can use candlesticks at this key level as extra confirmation -...
Look how clean this chart is and how SIMPLE it is to understand! I really don't know why so many people insist on having 100s of indicators on charts where they cant even see what price is doing.
We can clearly see a strong support level here on the daily (125) and this is where i am looking at price hitting before more bullish moves up. Now price has already...
GBP/AUD - all the info you need is written on the charts.
This is absolutely textbook one hour structure so far. Put this is your break and retest notes!
Breaks and Retests are a fantastic confirmation of trend. Use them!
Happy Trading guys!
Based on my analysis and theory i can see GBPUSD price will start to fall to around 1.356 area since RSI is showing overbought level and in resistance area too.
IF the price break out the resistance area, It will be good idea to close the trade.
This is my personal view, Trade at your own risk.
Please remember Cryptocurrency dose not work like forex and this is my personal view and based on my analysis and theory. Let us know what are your thoughts about this ETH?
I am expecting ETH to rocket up just like BTC as soon as the price breakout from resistance area, It will be good opportunity to hold/buy some ETH or if the price start falling, you can wait...
A nice trending move so far, just sharing some running positions so far.
We will soon be upping our ideas again, once our optimisation testing is complete.
If you have any questions, feel free to drop me a DM.
Thank you
Darren
Based on my analysis and theory, GBPUSD will be short for short-term
You can see the resistance level that put GU fall to around 1.354 support area and once it breakout the support area then it will fall more further to around 1.344 support area before we see GU going back up.
This is my personal view
Trade at your own risk.
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USDJPY H4 - Fresh lows being seen now on the lower timeframes, just need to sustain this for the daily close. Yesterday was a bit of a strange day to see initial strength (short lived on USD), but the bearish theme continues.
