EUR/GBP (H4) - After consolidating since the 28/09 we seem to have finally broke out the consolidation zone. I was expecting a more impressing break so a rally back into the zone before properly breaking out may be in the cards.
Another short pair. Price seems to be stalling which may indicate that this is the lower low being formed. I will be waiting for an pullback and a depletion in price before moving to the hourly.
Price seems to be topping out and we may potentially reverse. I have highlighted a trendline break and will be waiting for the momentum shift before moving forward with this analysis. Once the new lower low has been created we will be able to trap the range and look for the exhaustion.
Support has been broken that has created a new lower low to continue this bearish momentum. I am using the retest of support break to look for potential entries which is slowly adding up on the hourly timeframe.
Good morning traders, EUR/JPY has just broken resistance and created a new higher high. We are now in a bullish phase of the market and will be looking for buys. Price seems to have created the next higher low to continue this bullish sequence.
Similar to the last 2 pairs. Lower high looks to have formed to continue this bearish trend. We have a nice trendline holding on the hourly which is visible on the H4. I would suggest using this trend to look for momentum shift (break) and then look to enter on the retest.
Lower high has been created on the H4. We have multiple confluences to support shorts on this pair which include the multiple wick rejections around the lower high and price attempting to break for a second time to form the double top. I will be waiting for the neckline break and retest for entries on the hourly.
Good morning traders, potential lower high being created around the 618 retracement from the last lower high. I will be looking for he current H4 candle to close within the zone marked and possibly give us a wick rejection too.
Thought I would share a little late night trade with you. I spoke about this analysis on the 28th and it has adjusted slightly to account for this new trendline that has formed. Still showing a failure to break above with good bearish momentum. As long as price closes below support I will be entering with a sell limit with the levels provided. Remember to always...
Price consolidating, failing to break higher or lower. I am planning on trading the double top marked on the chart as we have a trendline break and retest which makes me believe that we could potentially break this consolidation to the downside.
Good morning traders, hope you are all having a fantastic week. Just a quick update, I have taken NZD/CAD off my watchlist and added this new pair. Price is continuing its bearish momentum creating lower lows and lower highs and we have just come off the back of a double top. However, I am starting to lean more towards a bullish perspective for multiple...
Nice consolidation zone that we can use for a support break and retest. Make sure you are always using your trading plan with correct risk management and be sure to check for any news releases that may affect your position.
Price is starting to stall from the high of the previous impulse. There are a lot of structural levels we can use to determine if this reversal will happen. As long as we continue to break support and set new lows on the hourly and break this H4 trendline I will be looking for sells.
Price starting to consolidate around this lower high formation, will be looking for a break of this trendline before I move to the hourly for entries. We may potentially see a burst to the upside.
Double top may be forming on the hourly to continue this downwards momentum. I am keeping an open mind on this being a potential exhaustion phase in the market ready for a bigger push but for the time being I am continuing to look for sells from a day trading mind set.
After a strong push to the downside price has continued to make these lower highs and lower lows showing continuation. We have finally broke support on this 6 day consolidation. Eyes on the retest back to this key level.
H4 timeframe is showing clear directional bias to the downside with the major break of support. I will be waiting for price to pull back to this support level and monitor how price reacts around it. As long as we see price start to deplete and fail to break above I will be moving to the H1 timeframe to look for entries.