GrantShuttleworth

GrantShuttleworth

Reason for short bias: 1. Confluent point. 4 indicators showing the possibility 2. Price has been rejected on downtrend of 50 EMA 3. Hammer formed on downtrend line with 3 prior lower high bounces 4. Price closed with hammer at a minor resistance area

GrantShuttleworth

Possible short but wait for a signal

GrantShuttleworth

Long entry near 1.32924 zone Reason for bias: 1. 0.38 Fib retracement level 2. Price above 50 EMA 3. Good support line. Old resistance is now support I will only enter if I see a price action signal.

GrantShuttleworth

Waiting for signal to go long on this. No fundamental reason, purely price action.

GrantShuttleworth

Reason for long bias: 1. Clear uptrend 2. Weaker yen means better returns for listed companies therefore this index should strengthen? Reason not to take: 1. clearly a range has formed. so we might get a reversal to 1640 How will I play this? If price breaks my 16894 level then I will be looking for signals to go long.

GrantShuttleworth

I dont trade patterns however this one jumped out at me while looking at this chart.

GrantShuttleworth

Reason for long bias: 1. Clear uptrend. 2. Price has broken a resistance level (2 bounces recently) 3. If price shows signs of rejection at new support then I will buy. image]https://uk.tradingview.com/x/vI8QpZHP/

GrantShuttleworth

This is purely price action sentiment. Price broke the level and Im now waiting for a retracement to the 0.382 Fib level and then a continuation higher (with price action confirmation of course).

GrantShuttleworth

Entry order short just below the open of the current candle at 11.891 Reason for short bias: Strong downtrend with price respecting the level.

GrantShuttleworth

Price has broken 132.403 level. Pulled back and tested. On break of indecision candle, Im going long.

GrantShuttleworth

Preceding downtrend however good price interaction at this level with many rejections The only problem is what Yellen says tomorrow. If Yellen hawkish then Ill wait for a break and pullback to short this pair.

GrantShuttleworth

Reason for my long bias: Huge move weaker on the Rand earlier this week...+8000 pips. I expect more uncertainty ahead with finance minister and therefore more Rand weakness. Thus I see 2 zones of possible entries long on this pair. Being such a volatile pair, extreme caution is required here.

GrantShuttleworth

Pound has been on a good uptrend recently. However it is difficult to ignore a strong price action signal like a pinbar at a predefined level! How this candle closes will determine if I short the pair.

GrantShuttleworth

Reason for bearish view: Preceding uptrend on the hourly Strong level at 4440 with many reversals. Price has broken this level and pulled back to test. I missed the trade but my bias is now bullish.

GrantShuttleworth

This range has been established. There have been 3 prior reversals at this level.