Jthomastrading

Jthomastrading

On the daily you can see the latest ascending trendline has been respected for a third time, candlesticks are also become quite stagnant. After have a big % drop I can see room for it to move up in the market!

Jthomastrading

daily & 4hour frame shows - double bottom Ascending triangle - would wait for break out of resistance line before entering the trade, also how it breaks out (is it weak or strong)

Jthomastrading

we firstly see candlesticks responding to the strong descending trendline (RED) and also a H&S pattern (BLUE BOX) both of these give a possible indication for a bearish continuation. Lastly there is a continuation wedge (BLUE) which generally results in a break out downwards. this would give even more reasoning to go short. I would take profit at around £25 the...

Jthomastrading

Firstly on the 4 hour timeline we identified a descending trendline. next on the hourly frame we notice a continuation wedge which means a bearish continuation. also noticed a descending wedge, which means more bearish support!

Jthomastrading

1. on the weekly and daily we are in a uptrend. 2. there is a double bottom (PURPLE BOX) which would then let it continue in a uptrend. lastly the resistance line (PINK) and the ascending support (BLUE) create an ascending triangle so again this shows it should break up.

Jthomastrading Updated 

Now we have to go down to the 1 hour timeframe we are able to see a head and shoulders pattern (BLUE BOX). coming out of this it forms an ascending trend line with multiple touches. It then breaks through the resistance and uses it as a support! When I done the original analysis it was just above the resistance! Please share

Jthomastrading

Give my other charts a look and give me a follow! Firstly on the weekly we have hit and been rejected by a major resistance area. This could mean a reversal but always look for multiple signals before entering a trade

Jthomastrading

Now on the 4 hour timeline (also 1 hour) you can see that a uptrend has formed from the rejection of the key area (YELLOW BOX) It then goes on to break through the last major resistance (RED BOX). All of this indicated to me that we are having a reversal and heading in a bullish market. We would then be waiting for a pullback to that resistance/now support before...

Jthomastrading

Here on the weekly time frame you can see we have hit a key area (YELLOW BOX) It is a key area because price hasn't been this low since 2017 and it rejected from this area. CHECK OUT PART 2!

Jthomastrading

Firstly on the weekly timeframe we have has our fourth touch with a rejection from a key area (YELLOW BOX). Then on the daily and 4 hour timeframe we start to see a reverse head and shoulders pattern forming (PURPLE BOX). taking this into account with the key area being touched, if the pattern develops this would give me indication that we are going into a bullish...

Jthomastrading

Firstly on the weekly timeframe we have has our fourth touch with a rejection from a key area (YELLOW BOX). Then on the daily and 4 hour timeframe we start to see a reverse head and shoulders pattern forming (PURPLE BOX). taking this into account with the key area being touched, if the pattern develops this would give me indication that we are going into a bullish...