- H&S formed, and price broke through it - Want a pullback to the 0.382 FIB which is around the neckline area - That would line up with the 50 and 200MA on the 1HR - Rejections of those would be a good indication to go short
- Break of ascending trendline with a large bearish move - Break of 50MA - Looking for pullback to retest the 50MA, trendline and/or 0.382 and 0.618 FIB
- Higher highs and higher lows - Trendline rejections and 0.618 FIB along with 50MA on 4HR - May look to buy if we get slight pullback to 0.382 FIB, which lines up with 50MA on the 1HR
- Break and retest of descending trendline - Lower Highs, lower lows - Pullback to 0.618 FIB and 50MA will be looking to go short
- Strong bullish candle on the daily, with a break of the 50MA - Break of descending trendline on the 4HR - Looking for pullback to 0.382, ideally further down to the 0.618, lines up nicely with the MAs on the 1HR and 4HR
- Higher highs and higher lows - Pullback to the ascending trendline which lines up with the 0.382 FIB and 50MA - Rejection of this would also line up with 1HR 200MA
- Break of ascending trendline - Weak dollar - Rejection of 0.786 FIB, trendline and 50MA
- Higher high and higher lows - Rejection of trendline, 0.618FIB and 50MA - AUD strength and Dollar weakness
- Higher lows - Overall uptrend - Weak Dollar - Rejection of TL and 0.382 FIB
- Potential H&S forming - A push up to form the right shoulder, lines up with the 0.786 FIB - If we get a clear rejection, could be looking for shorts
- Lower lows and lower highs - Below MA's on all timeframes - Rejection of 0.382 FIB - Failure to close below 50MA on the 1hour
- Break and retest of descending trendline - Lower Highs - Rejection of 0.786 FIB
- Break and restest of descending trendline - Forming new uptrend, with higher lows - Nice wick rejection off the 0.382 FIB and 50MA
EU is currently hovering around the 1.13375 area. Potential right shoulder forming which lines up with the golden pocket area of the Fibonacci Sell bias on this pair, if we get a nice rejection to form the right shoulder, we will have a lovely entry for a short. If we get a push down to break the neckline and ascending trendline, there could be opportunities for...
Nice uptrend on the 4HR Higher highs and higher lows A retrace to the 0.618, rejection of TL and 50MA (with a new higher low) would be ideal entry for a long
Still looking like an uptrend on the daily. However the lower time frames are looking bearish. Do we have a possible H&S forming? The top of the potential right shoulder lines up with the 0.382 FIB indicating further bearish movement If we get a break and retest of the right shoulder (also the 0 FIB) we could see a new downtrend and opportunities for shorts
Very bearish on higher timeframes If we get a pullback and rejection of 50MA, 0.382 FIB and the creation of a new lower high, would be looking for a short entry
Seeing a lot of Aussie dollar strength recently, EURAUD in overall downtrend. Still seeing lower highs and lower lows Rejection off 0.382 FIB