Price recently broke to the downside to test 1.599, causing a double bottom on the daily timeframe, and formed a very strong bullish candle.
Price is back within the range and testing the 61.8% Fib
I consider price to be at an interesting level. Should this area hold, I will look to hop on to the trend down, looking for new lows.
If there is a breakout higher, I...
This is a Elliot wave count which has formed into a double bottom (Wave A end and C (5) wave end).
This has the potential to push into a wave 3 Long showing TP1, and then 2 and then the 1.618 extension at TP3. Nice little pip collector.
We are waiting for a break of this inside bar setup.This pair is still bearish, having broken below weekly support in this fib play. There are multiple confluences suggesting the bears are in full control, including the MA's still being in bearish territory. We will wait for setups one we get a break lower from this inside bar setup, or short a retest of the...
Day Trade - Channel Reversal
Bounce off Channel Low - Looking to go long up to 1.7200 area (two targets)
Entry at 1.6225
Stop at 1.6185
TP 1 at 1.7200 (1:19) Risk Reward
TP 2 at 1.6680 (1:8)
With AUD looking bearish on all pairs today and GBP gaining strength with fairly good data - Could be a fast moving trade.
This pair is once again testing a level of weekly support in the formation of a bullish bat. The D point is calculated just above this level so it may push past that point to retest the area, however, a considerate stop-loss shout allow for the move to breathe. This movement is coming coherently with a Bullish Gartley on the GBP/USD pair, adding to the solidarity...
When you son in together the WEEKLY / DAILY / 1HR you can achieve great risk reward trades such as this 1:5
confluences c legs on weekly , daily , 1hr , ma's , pivots on 1hr
weekly bearish engulfing , daily shooting star , 1hr reversal
The pair has broken out of the range to the downside, being rejected at resistance, took the trade out at the first convincing bearish candle, price was also looking bearish as there were many shooting stars created on the 4HR chart on the daily. Fib level also touched 50% and now should be heading downwards.
TP @ 1.62038
SL @ 1.64976
R/R @ 1.51
On the weekly time-frame we have a higher low formed coupled with the last two candlesticks on the weekly being strong bullish bars.
On the Daily, we can see that price has rejected off the monthly support area at 1.65000 and another confluence is the Fibonacci retracement tool, we can see price has bounced off the 38.2% area. Additionally there is an MA crossover...
we have already completed Gartley formation. It has just tested PRZ till almost X leg so there is a good chance that it goes all the way up to 1.66500.
I am aiming for conventional profit targets and stops placed below X leg.
Good Luck Traders