Confluence: Triple top on the 1HR Chart Price has yet to create a new Lower Higher , it is trending up. Price has struggled to break the 114.40 level wicking but not closing over that price. 2:1 Risk Reward Trailing stops help to keep profits. 10 points = 1pip , 100 points= 10 pips.
Confluence: FIb retracement hit was .786 so TP is at 127% Fib extension level (.77194) , which is still in the ascending channel. 127% fib extension is in confluence with the weekly resistance. Bullish candle bounced off ascending channel leg , which acts like a form of support. Use trailing stop to have a risk free trade. Hope this helps you.
Reevaluated the market after previous post. Determine Market Structure First ALWAYS. Confluence : Higher timeframes indicate higher higher and higher lows. Price Retraced to .618 level on 4HR Chart (.76064) which was a previous resistance now support level Target TP is 1.272 Fib extension level ( 4HR Chart .77668 ) 5:1 Risk Reward
CONFLUENCE PRZ (Price Retrace Zone) at 0.382 level Projection based on Fib extension is 1.618 for TP Retested head and shoulder(4HR Chart) breakout and closed underneath level(.76340) 6:1 Win Lose Ratio based on stop loss at previous structure resistance (4HR Chart) (0.76477)
Didn't post prior but price went down as expected. Double top at a key level of resistance on the 4HR at .76918 Lower low close after the bullish candle hitting the resistance level.
Didn't post this prior but had the proper setups and confluence indicating price going down and hitting monthly support. Confluence: Head and Shoulders Pattern Head bounced off weekly resistance 1.08300 Bearish Engulfing patern after right shoulder after wicking.
Following market structure its possible price will continue down near the monthly support level 111.000 Entry price 112.523 Stop Level: 113.619 TP: 111.47 Risk Reward 1:1
Confluence 1. Double bottom retested on the 4 hour chart 2. Price bounced off weekly support 1.30000
Confluence: 1. Looking for price to rally back around the 114.00 level then continuing the uptrend. 2. Price hasnt retested its breakout yet on the higher timeframe (daily) 3. Key level is the weekly support 114.00 4. Head and shoulders on the 1HR chart indicating probable rally downward before continuing uptrend. 5. Probable tps
Confluence: -Weekly Support being respected (1.30000) -Broke A Downtrend Line and retested it -Previous zone has yet to be retested (1.33000 - 1.3165 on the 1HR Chart) -Higher high candlestick close after retesting the breakout (1HR Chart)
My Confluence -Price broke out from Daily downtrend line. -Fresh Supply Zone 1.5011 -Formed Double Bottom on Weekly Chart (Reversal Indicator)\ -Fibonacci shows it will make a PRZ Zone at the 0.618 Level ( around 1.2877) Success Leaves Clues
MY CONFLUENCE -Respecting Daily Downtrend Line -Head and Shoulder Formation (Reversal Indicator) . Head respects downtrend line. Shoulders respect monthly resistance line 0.68527. -Demand Zone tested once. -Fib Retracement on Weekly Chart Shows Head Hitting 50% Retracement Mark
-Head & Shoulders During Up Trend (Reversal Indicator) -Price Retracement Zone(PRZ) is at 50% on Fibbonaci Line ( Slight Aggressive ) -Retesting Demand Zone From 2009-07-06
My Confluence -Broke out major Supply Zone, going back up to Retest. -Fibonnaci PRZ is .382 line -Inverted Head & Shoulder (Reversal Indicator) -
My Confluence -Bullish Engulfing Pattern (Reversal indicator) -Respecting uptrend line -Price Retracement Zone (PRZ) is .618 -Fibbonaci Extension shows that .618 the same as the Supply Zone -
My Confluence: -Respecting major downtrend line -Bullish spinning top(Reversal indicator) -Shooting Star (Reversal Indicator) -Daily Chart Shows Tweezer Tops(Reversal Indicator
Forming a Symmetrical triangle , looks to be bearsih .