KIWI DAILY CHART EXPLAINS WAITING ON BREAK AND RETEST OF OUTER CTL FOR SHORT POSITION SHOOTING STAR LAST FRIDAYS CANDLE ON THE 10TH APRIL
Here as you can see we have a 38.2% retacement with a double top. Using the double top range we can see that it alines up with our -27.2% and 61.8% targets. Here we are awaiting a break and retest of neckline to go short which would also break the CTL.
AUDUSD Here i am short bias however we can see that price is on the outside of the channel at the moment so will await more confirmation.
Here we have had a retracement to the 61.8% level. Since then we can see price has been moving in the downwards direction. We have seen a fakeout of the bottom trend line which gives us an indication that price will break. Once we have seen a break and retest we will enter short with our first target being 0% and then -27.2% which also alines with daily demand. IF...
Here on eurjpy we have a 38.2% retracement with a double top. There was also a fake out of the CTL which would have trapped sellers. we can also see that we have had a touch of the upper trend line and as you can see previously when we have a touch it is followed by short action. We are now awaiting a break and retest to take a short position. We would like to see...
We are short on EURAUD due to the break and retest of the CTL. There has been 2 fakeouts on this CTL as shown, this will tap sellers that didn't await the retest rule. We can also see that price has rejected the 61.8% level with the wicks touching resistance. we have 4 targets for this trade and will monitor it on the way down by moving stop loss into profit and...
Short setup of eurusd. Looking for a break and retest of CTL to go short. We can see price has touched a supply zone and are now awaiting the break and retest.
Simple uptrend on the hour chart with new high low forming, await price action for long position to supply zone
Short position as it tried to break TL and got rejected, this TL has been respected for a while. It also tried to break the major resistance and got rejected again. Bearish engulfing on the weekly and daily chart.
Gold hit downwards trend line and major trend line creating a new Low. Previous Lows from downwards trend have bounced back to create a new Low High.
Projection that the BC leg will be complete at Fib retracement level 38.2% and then the CD leg will drop to first target of -27.2 (124.767) This level is also a major S&R on the weekly and monthly TF, if rally continues which in my opinion it will due to it creating a symmetrical ABCD which will take us to target 2 which is -61.8 (117.965) and this is also a major...