PatiencePays777

PatiencePays777

Upon whatever confirmation you use, look for this market to push down off that resistance trend line at least to the black line. Could go further but I'd only play it to the black line as a bias for the week. I'm no professional, use at your discretion

PatiencePays777

For the price action, candlestick analysis people out there, The weekly chart shows a Shooting star/Bearish Pin bar on the Weekly chart and a confirmation of it with the week just passed with a weekly candle close below the low of that Shooting star/pin bar. This is a pretty compelling reason to look for sells at least down to that red zone in my opinion. However,...

PatiencePays777

First off, there is a monthly Ascending triangle. The orange lines represent monthly zones. The circles show the touches of the trendline zone. So the monthly has some uptrend structure. When we look down at the Daily chart, we see at the market is currently in a downward parallel channel. However, I'm looking at it bouncing off of one of the bottom two green...

PatiencePays777

So Monthly/Weekly/Daily/4h, they ALL have downtrend congruence in their structure. It's beautiful, but...Price has impulsed up very strongly from that blue potential supply zone on 2 occasions and even now it could be pushing up. We also see that it is slowing up at this equidistant channel resistance and there is rejection expressed from the previous 4h candle....

PatiencePays777

Multi TF analysis first, we see the Monthly/Weekly/Daily in congruence for an uptrend. On the daily here, we see that the market could be pulling back. I've got the fib zones marked with rays. As you can see there is the 50 and 61.8 percent level each identified with a ray. Additionally both those fib levels have confluence with a significant support/resistance...

PatiencePays777

For starters, on the right we have a weekly chart, and on the left we have a daily chart. Using multi time frame analysis, I'm leaning towards believing that this current uptrend we are in can make it all the way to the orange line for either a retest of that orange MONTHLY zone as a support turned resistance OR, it will turn out to be a false breakout on the...

PatiencePays777

It isn't the prettiest, but How often are they? Here we see a Descending triangle formed on the 4h hour with at least three touches. We have a candle close under that support and it looks to me like the market is returning to potentially retest that previous orange MONTHLY support zone as a newfound resistance zone to continue the overall downward trend. From a...

PatiencePays777

Here we are waiting looking for the market to pull back into the significant zone to retest it as support and attain some convergence with it falling between or at the 38.2-61.8 fib zone. This pullback looks like it would also be wave 4 for Elliot wave analysis for even further convergence. If we get a candlestick confirmation pattern in the blue Fib area I will...

PatiencePays777

Evidently, the market will do what the market wants to do, so this is no guarantee that it will actually go down. However, we see that there is RSI divergence. AND, the bump and run formation is now in the run phase. The trend had a lead-in trend line with the black trend line on the bottom. The bump phase happened with the blue trend line. Shortly after that you...

PatiencePays777

As you can see in the picture, EURGBP respected the trendline and bounced off of the green support zone to form a Descending triangle. Then, it broke through, and retested it with a forming Evening star Candlestick confirmation. This trade is a good trade to lose, since the setup is so perfect and the orange line is a monthly resistance level so it's a fair area...