I would like to see a counter trend move on this market. Currently, this is overextended and potentially exhausting. We still have bullish pressure on the lower time frame, so i would like to see a clear break of structure, a shift in momentum and a retest before looking for a day trade on the pullback. Targeting around 30 pips only.
Looking for a day trade on this over extended market. Wick rejections on the 4hr are indicating an exhaustion of bullish pressure. The 1hr confirms this with a bearish momentum candle. What i would like to see on the 5min timeframe is either a double top confirmation, or a break below the current 4hr support and a retest for a continuation down.
Looking for a day trade on this over extended market. On the 1hr we see a bearish momentum shift and i am looking on the lower timeframe (5min) to capitalise on the lower high that potentially is forming. 30 pip target to bring us down to the 4hr range that we currently have.
Based on analysis from last night, I am looking for an intraday momentum trade to the downside. We had a failed attempt by the bulls to push higher on the lower timeframes, which gave me confirmation for the trade. This is a 1:3RR on the 5 min timeframe. Let's see what happens.
We're seeing exhaustion on the 4hr timeframe as we reach a key area in the market. Price could still push slightly higher as we enter the new London trading session, so lets wait for confirmation. I am looking for a reversal trade on this pair. 1hr is still bullish at the moment in the form of an ascending channel. What I will be waiting for on the lower...
Looking for a reversal trade as we come into tomorrow's session. GBPUSD had a decent run today, but now looking overextended and exhausted. However, we can still see some upside potential as we haven't, as yet had any confirmation of a reversal. I've marked out a range that i will be looking at and one idea will be a break and retest to the downside on the 5min...
4hr: Price retracing back into a resistance level
1hr: Price decelerating at this level and a series of rejection candles forming
5min: We can see price making a double top at R1 with huge divergence on the MACD
Looking for a retest of the 1hr 50ema as a target. Small day trade opportunity
Good luck in the markets.
Overall, we are still bearish in this market. I am looking for a pullback into a liquidity zone to take a short. On the 4hr, we have the 50 ema above current price, but there is also an area of potential resistance slightly above this. Will watch to see how this plays out.
Good luck all.
4hr - Price deceleration at support zone, currently rejecting this level
1hr - double bottom with bullish divergence on the MACD.
This is a quick play back up to the 1hr 50 ema. Extended targets at the 4hr 50 ema.
Price has decelerated at a historic support line - while creating lower lows. We can see on the MACD that there's bullish divergence. I will be taking a long position just above the daily high with a view to taking targets at the 50 ema. Although as this will be moving, I will be actively managing this position.
We're looking at a potential completion of a Head & Shoulders reversal pattern on the EURUSD Daily. What I will be looking at is a break and retest of the neckline which coincides with a support area of 1.20600. Targets - I will be looking to a push up to the 1.21900 resistance level.
Good Luck Traders