Trend Continuation Trade
- Multiple Fib Clustering
- Complex Trend Analysis
Awaiting price to pullback to 1536.200 before entering a short trade and aiming for $1512.00
Stop Loss 52 pips above entry.
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My short term bias is bearish down to the bullish 4hr trendline and the $1518 price zone. This is where the 0.618 retracement of the last bullish wave sits along with the -0.27 fib extension from this weeks early pullback after the weekend gap was closed.
Once price hits the $1518 zone I will look for the break or bounce of the bullish trendline. Ideally, long...
USDJPY is struggling to breach 106.650 and a nice 4hr resistance zone has formed here. I am looking for 2 things to happen.
1) Bullish momentum break of the zone to take us to 108.500
2) Bearish rejection of this zone and a break of the ascending TL to take us down to the 105.00 support zone
I am attempting to short US Oil again but this time I have the added confluence of the CTL being broken and retested.
Another bearish wick rejection of the trendline and daily 50ema occurred yesterday swell. This gives me greater confidence.
I am still targeting $51 per barrel
Basic fib clustering technique combining multiple timeframe trend analysis to get high accuracy entries with a larger R:R.
Using the current 4hr bullish trend to enter a long trade on the ent higher low, Fib & TL bounce.
I am aiming for the target trend fib -0.27 extension to maximise reward:risk ratio.
FTSE100 is making some nice consolidation on the 1hr timeframe and is now breaking the lower TL.
I will wait for a clean break and then short on the retest and lower high. Targeting new lower lows at 7000
US30 in a bearish trend on the 4hr chart
Price is pulling back in to the 50ema and fib cluster zone as shown on the chart.
I am waiting for rejection candles to form and then short down to new lower lows at 24500
USDCAD Short Trade
Daily/Weekly bearish TL broken and retested
Price is below the daily Fib 0.786
Counter trend fib -0.27 extension rejected.
Targeting daily fib -0.27 extension (new lower low) at 1.29
Stop loss is placed above the daily 0.786 fib level