Retracement following the break of the head and shoulders formation. 50% Fib rejection. Nice 1HR indecision candle followed by a bearish engulfing. Want to see it break below the 50EMA. Not a perfect entry so trade with caution.
Looking like a retest of the double top formed last week, looking to confirm with the 4H close and some 15min chart confirmation.
Currently-50% FIB rejection.
Monitoring DXY as its in quite a choppy range so taking this as a risky trade.
Look for the high probability setups!
4HR rejection of the FIB level with a double top formation to confirm with an additional touch of the descending trendline
Could have found a better entry point but there's always more than 1 opportunity!
Morning star formation on the 4 hour chart gives the possibility to fall some more.
EUR JPY reached new lows since 2017, in a descending channel so looking for the push down to -27.2% and a third touch of the trendline. Will be looking for a buy order at this point. Possibilities to retrace back to previous levels of structure for a sell order.
Following the breakout of the 4HR descending trendline were looking for a retracement before a bullish continuation.
-The 50% FIB lines up well with previous structure
- Possibility of the 50EMA acting as dynamic support following the retracement back to the 1.6700 region.
- Looking to go long on this pair if provided with supporting evidence at lower time...
-Lovely retracement into previous level of structure and looking for a third touch of the ascending trendine @ 50% FIB with a possible line up with the 50 EMA acting as a dynamic support.
-Possibility for a break of the ascending trendline and retracement to 1.2408 as confirmation to go short down the bottom structure LV.
- Monitoring closely due to double top...
-Looking for the 3rd touch of the ascending trendline
-hopeful for a 50 EMA line up @ 50% FIB to act as dynamic support at a level of relevant structure
-Monitoring 38.2% as a possible level to also go long.
Be cautious of a possible double top formation.
Opinions would be appreciated!!