There is an ascending channel and appears to be a breakout and retest of the trend line and looks likely that price will continue to the downside.
I will be aiming to take a position short on this.
- Wait for a 4hr candle close below the resistance zone .
- Wait for a pullback and a retest of this zone.
- Wait for a rejection on the 1 hour or 30 min chart....
This is a simple break and retest trade.
- We have a 4hr candle close above the resistance zone .
- Wait for a pullback and a retest of this zone.
- Wait for a rejection on the 1 hour or 30 min chart.
- Wait for price confirmation either an engulfing bar or pinbar .
- Buy
Let me know your thoughts on this one!
Thanks
Price has been ranging between 1.7400 and 1.77200 however price has broken the top o the 1.77200 range which shows supply at this level could be weaker.
There is a fresh Daily Supply at 1.78800 level which is where I will be watching to see if price reaches this zone to short down to fresh Demand at 1.72500
Price has been pushing higher this past week.
On the 4hr we have had a solid DBR which leads me to believe we could see some pull before price pushes higher.
This does look like it could set up for a RBD back into the the 145.700 level which is where I will place an order to get long.
Target areas to watch would de a daily Supply level at 152.00 and the we...
Price has been pushing back towards some fresh demand.
Areas on my radar are initially at the 1.29250 area if this fails then we have a demand zone at 1.28100
Price has dipped into the weekly Demand zone at the 1.12000 level
There is a Supply zone on the 4hr TF at 1.13050 that could be a area to watch initially for shorts, if this level fails to hold there is Daily Supply at the 1.13600 level
Price hasn't really touched the bottom zone, it has be pushed up before its gotten there which leads me to believe that this could offer a buying opportunity.
There is a fresh 4hr zone to aim for which as you can see price has been moving sideways for some weeks.
there is a truly fresh demand zone lower.
Looking at where price is there are a few levels that are jumping out.
The first area is the 1.17400 level, there was a strong move down from this level, looking left however there has been a lot more activity in this area which leads me to believe that although there could be a good opportunity here there is a better and untouched area at 1.19250 area.
If...
The 1.12000 level has only just been touched and rejected so this could offer another area to get long. However the untouched area that would offer a better low risk chance of a turn would be down at the 1.10200 level.
The highest point offering great shorting opportunities is way up at the 1.22800 area
Price has been ranging sideways between 0.9600 and 0.95700 this shows me that there is potentially a chance price may break lower.
There is a fresh Zone at the 0.9300 level which has had one tiny test and bounced from this level. If price shows signs of rejection at this level it could be a good place to get long to the 0.96900 level.
If price were to break to...
Price found the 1.14500 level this week as a hard area to push past, overtime price got to the level it found strong selling pressure.
For the most part price has been ranging between 1.1§300 and 1.14500
Two areas that I have got my eye on are firstly the lower Demand zone at 1.12200 when price found this area last, there was strong buying pressure and shows...
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