Formed into a Bearish Symmetrical Triangle, i'll await the fourth touch or a break out of price. There is a spinning top on the 1 hour however, with a new LL having been recently formed, which wiped out the previous HL, we could be seeing price head downward again.
Looking to short this pair, this is purely for my own educational purpose. Regardless, Seen lot's of upside wicks forming on a strong price zone indicating we could be seeing a short term push downward. The overall trend for the day is bearish so I feel this could be a good opportunity for some downward pushes. The only worry is the rising trend line below,...
Testing out new chart layouts and methods. These posts are purely educational and are there to prove to myself if my new strategy is working or not. Regardless, We've seen a nice rejection of 1.29000 which coincides with the idea of HH and HL, so I expect we may push up sometime in the near future. I'm going to wait for some strong candles to confirm this however.
Overall uptrend, a solid trend that has been in the run for a long time. Recently, this pair consolidated for a long time so we can only speculate that this is the market taking on orders, and lack of volatility over christmas. HH and HL's plus a recent touch of the ascending trendline say to me that we are going upward once we break the 1 hour yellow zone above...
Overall Bearish. LH and LL, recent re-test of the 14 ema and two touches on the most recent resistance line. Looking for a break of the yellow zone and a retest of that green line before shorts will be taken. A more risky move could be taking shorts now, however that is not what I plan on doing. EMA's are above signifying strong downmove.
Overall Bullish. Recent HH so maybe we could see some pullbacks toward the yellow zone before heading upward again. This would also coincide with the idea that price could be re-testing that zone and then pushing up again. There was a indecision candle formed as well so price may be going down for a short while before going up again. EMA's are also in full swing upward.
Overall Bearish. Looking for a break and retest of the appropriate zone below, I expect we may see some form of correction in the market initially upward which could provide some good short term positions.
Overall Bearish on this position. Recently touched the long-term ascending trendline. 14 and 50 EMA below, and it has also made HL and HH indicating upward movement in the short term. I will wait for a strong break of this upward structure before entering any short positions for now.