The main trend on the daily chart has a bearish bias as shown by the pitchfork setup. Price at the moment is near SR and the median parallel line, There's a high probability for a short towards the median line (in red on the left). Price needs to make clear bearish moves first. When price makes those lower lows, there's an entry possible for a 1:3.2 RR ratio...
Trade based on S/R zone. Pinkish seems being stronger, however I am not very patient guy, so splitted trade into 2 - one already entered, another is limit order. SL the same for both, TP the same as well. This way I am feeding my unpatient nature :) Hah, Forex is a great lessons of itself understanding... ;)
as on picture. have two positions, the same stop, the same TP, different entries.
D1 stron S/R plus zigzag and local S/R = I am bearish. When loss activated - I'd wait for retests and then go long. Profit target - erm, erm, quite interesting. Far far away as next strong S/R is not so close. Obviously some pullbacks are possible. Anyway - let us see.
Everything is on the chart guys. Fibonacci cluster consisting of 2 retracements (.382 and .50) plus the 100 extension from the previous price retracement. All of this lines up perfectly with previous support/resistance + that we're in a bullish trend. Good luck everyone and hold your thumbs!
Everything is on the chart. Looking to short at the retest of the blue s/r level. Time will tell if it will come back up here.
Why don't we have a bigger correction - just to last significant S/R - that would be a nice AB=CD on all the correction move. Also this flag is totally bullish. So why not?
I am by nature optimistic, but is something is very good for long time, it makes me suspicious. And here we have EURPJY which was bullish some time - so far, so good - now I feel it's time for some correction. There are some concepts, but most probable is - I think - to 137.000 - that would be c.a. 50% od impulse.... Anyway - let us see, and now - have a great...
First target hit on original idea published Detailed S/R x Fibonacci analysis. Clusters of fib numbers show key S/R x pivot points. Hope to break and exit cloud by end of week, lets see what happens!
I draw my own S/R to show where price is respecting levels, You will find Fib retraces often line up pretty well with these lines :) Draw your S/R first then add fibs, you'll see. CCI peaked and is now heading south. Current 50% Fib reversal, Hopefully we are all down from here! Good Luck Trading!
Bear Wolf near strong SR level and SD area. RSI divergence is also showing.
1.12700 is a nice round number for a resistant level. Price has break the support level recently and I'm expecting the price to retrace to 1.12700 resistant area. I'm also expecting the price to be rejected by the level (first touch). I would go for a short position after price has reached the new resistant level.
USDCHF hit a good resistance level on the daily chart and looks likely to at least trace back and retest the previous resistance level. Drilling down on the 4H chart shows a good risk reward long opportunity.
Currently seeing a retracement in PA following a breakout of a long-term rectangle pattern, shorter term descending triangle pattern. Looking for a retracement back into the 1.24000 SR zone (strong weekly and daily SR area), which would not only see a retest of the breakout resistance area but would also test the 50/61.8% fib levels. An ABCD pattern would put...
DXY Speed Resistance lines Projected from Opening to extreme price and time of box.
PA has formed a nice pin bar on a previous daily S&R zone as well as in a weekly S&R area. The daily candle couldn't close above the previous day's high, which along with the substantial wick, indicates weakness in the pound vs the dollar Looking for bearish confirmation prior to entering trade. Targeting the 1.46 to 1.45 area for profit taking.
Following the RBA's no rate change announcement, AUD climbed strongly. The price has stalled at a previous S&R zone as well as a 50% retracement level of the previous movement, making higher highs but with strong rejection of the highs by the bears. Looking for bearish confirmation prior to entering trade and looking to see how the PA reacts around the 0.94500...
GBPJPY LONG STOP 2 ATR TARGET 1 3.82% TARGET 2 61.8% GOOD LUCK