GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
PREMIER AFRICAN MINERALS LIMITED ORD NPV (DI), LLOYDS BANKING GROUP PLC ORD 10P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), LOCATION SCIENCES GROUP PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, POWERHOUSE ENERGY GROUP PLC ORD 0.5P
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
SHS PATTERN FORMED
short swing based on exhaustion wicks, zone touch and chart patterns
AJ is in a channel - keeping an overall bullish trend but abiding waves.
CHART Pattern + shs formation = big pips
My previous idea showed a downward bearish breakout of a overall bearish channel on 4HR, combined with EMA Close on Daily Timeframe I thought a bearish move was guaranteed.
On 4hr, market has respected the Daily TF trendline. It would be interesting to see how this will break out.
Disregarding the EMA Cross and focusing entirely on chart patterns, Market should ...
See previous published idea for detailed explanation of GBPJPY in each timeframe.
Daily: Show bearish momentum
4HR: Channel breaking to downside to nearest FTR zone
Daily: Descending trend line, showing rejection touches
4HR: Counter Trend Line rejection
Daily: Possible SHS Pattern. Waiting on lower TF confirmation to see if right shoulder is formed....
4HR: Shows rejection of support level - roughly 100 pips movement
ANALYSIS ON DAILY, 4HR, 1HR
For intraday trading follow these steps
On daily TF look and what do you see
Price is respecting a zone
A upward trend has formed and thus forms a chart pattern
this pattern is called a ascending wedge (amongst many others)
The wedge was broken and retested forming a double bottom which indicates price will move back up
Quick trades - zone to zone