TomFX13

TomFX13

Simple Triangle breakout analysis, target range is measure by the flagpole of previous swing.

TomFX13 Updated 

Confluences -D1 Fib Supp 61.8 Holds -D1 Bullish Engulfing Bar Setup -H4 CTL BO -First TL BO Pullback -Strategic Exit Strategy, SL below Rising TL & Daily Support whilst maintaining good R:R ratio

TomFX13

Price currently halted by monthly resistance level. Patiently awaits proper Price Action setup forms @ the Buy zone with the confluence of Fibonacci Retracement level & Broken TL/Rising wedge retest.

TomFX13

More upside expected, however, no trade should be taken for now although the falling trend line is confirmed broken with a daily close upside the trend line, as price is currently testing previous swing high (Daily Resistance Level) it is not wise to take a long entry considering the SL requirement would be larger. Long entry will be taken if the price pullbacks...

TomFX13

Fib extension downside target 1.49500

TomFX13

-Double bottom formed after breaking the falling TL, Falling TL act as the TL Support now -No Lower Low / Higher High formed -Range bound market structure

TomFX13

Fibonacci ABCD wave setup Confluences; 1. Broken trendline retest 2. Bullish Engulfing bar at the confluence zone 3. Fibonacci retracement level

TomFX13

The Outer TL and & 1.11000 round number psychological support level act as important levels now, Let's wait for price action to tell us which way it is heading ;)

TomFX13

Triangle Pattern Breakout Bearish PAs below falling Trendline Fib 61.8% Rejection Idea; Wait for low risk short setup in lower timeframe

TomFX13

- Pin Bar setup - 3rd Trendline bounce - Expect to make a new higher high - I am with the bulls as long as the TL holds - Fib target 52.00

TomFX13

-The price rejected at the resistance with a Bearish engulfing bar, a retracement to the downside may be coming. - This analysis was made based on the long-bias for EUR/USD. -Wait for Price action at the yellow box area to confirm a long trade.

TomFX13

- Weekly candle shows neutral momentum - A morningstar-like candlesticks pattern, However, the latest candlestick did not close above the 50% of previous Bearish engulfing bar, so it is not a valid morningstar. - Bearish reversal daily candle close below daily resistance level, which is also Fibonacci 38.2% retracement level. - Price pulled back from a newly...

TomFX13

#Weekly chart clearly shows bull is in control as the wave formation is forming higher highs & a accending parallel channel pattern is in play #Price is testing fib 76.4% retracement near uptrend line However, the previous weekly candle close was bearish. Trade idea - Wait for a bullish daily candle and go long with stop at the nearest support

TomFX13

#Price rejects at the monthly key resistance & 3rd bounce of monthly downtrend line. #Weekly candle closes with bearish engulfing bar with almost no downside wick , indicates high selling pressure #Price is testing broken support - a new resistance #could be a potential long term swing short setup

TomFX13

#Weekly candle closes with long wicks in the both side, which indicates directional uncertainty. # Price pulled back under the daily down trendline, with another daily close below the trendline, the latest breakout should be considered as a fakeout, as the trendline in weekly is still intact. # Short position are preferred as the price continue to form lower...

TomFX13

Target 1: 47.70 Target 2: 50.00 Long Invalidation : Below 42.80