On this chart, my analysis shows that GBPUSD is on a bearish downtrend with no signs of reversal yet. On the 4h chart, we see that GBPUSD might potentially form a head and shoulders which would indicate a bearish trend and that it would still follow my prediction.
We are currently near that .786 fib level which seems very prime for a short and I kept my take...
I picked a major as you mentioned and charted my key levels of support and resistance.
However, upon using your fib strategy and looking at different time frames, I noticed that I could see the wedge forming which I believe is currently bearish. Currently this pair is trying to retrace to the 61.8 level but if it breaks, I feel comfortable shorting for a...
Horizontal S&R Legend:
Green dotted lines = Monthly
Pink thick lines = Weekly
Blue = Daily Support & Resistance.
When I was looking for trends, I was looking at the daily and I noticed that GBPAUD is forming this sort of wedge pattern that either has tried to break out if you look at it from the two black trendiness that I drew or is trying to break out if you...
Month:
It seems like from 2002 to 2010, there were lower highs / lower lows forming with strong support at .94200 which it retested a few years ago.
Broke through the cup and handle formation but seems to be on a downtrend at the moment.
MA/EMA about to cross soon, which means __________
Support @ 1.22496 / 1.30855 | Resistance @ 1.38088 followed by...
Phase 1: Price Action & Top Down Analysis: Drew Trendlines for the Monthly, Weekly, Daily, 4 Hour, 2 Hour, 1 Hour, 30 Minute and 15 Minute by Using Horizontal Rays on anything with more than 3 taps.
Phase 2: Key Placement Levels: I think I did that to the best of my abilities
Phase 3: Incorporated the moving averages but could not determine any good entry...
6/15/19 @7:40pm
Josh helped and notified me on the level I missed. :/
First chart analysis ever, pre TA learning.
Let's see what the TA chart looks like next month, hopefully, a bit more accurate :).
Analysis:
