though my last trading setup on EURUSD was stopped out, I still believe that the underlined 4H structure resistance will hold.
on Friday the price has attempted to break above that but was immediately rejected by a bearish engulfing candle.
taking into consideration that the pair is locally bearish since 10th...
Crude oil reached a current structure high yesterday.
Bears started to push during the US session but were immediately rejected on 4H.
it looks like bulls are preparing for a continuation.
next week pay attention to 39.9 - 40.5 structure resistance area.
if bulls manage to break and close above that then we...
Ice breaks and EURUSD finally started a bearish movement this week.
on Friday the price managed to break below a strong demand area and successfully closed below daily/4H structure.
short term bias is now bearish and next week I will anticipate a bearish continuation to lower structure levels.
talking about a 1H...
this week gold just kept breaking supports, one after another, and on Friday sellers have reached a key daily level.
on 8H/4H chart we see a nice combination of two harmonic movements with a perfect match of their projected completion points.
moreover, we have a perfect fib.confluence of the last two bearish...
GBPUSD is trading within a rising parallel channel .
Next week we can expect a bullish continuation from its support.
The next goal for buyers is 1.2425 structure resistance based on 618 retracement of a major leg.
two weeks long consolidation on wti.
the price was trading within a narrow horizontal range bouncing from 31.5 support and respecting 34.4 resistance.
Friday's price action was different.
it was the first time when the price set a higher low after testing the support of the range.
and then, during the US...
what a short rally on GBPUSD on Friday!
the price has surely broken below a major daily structure support level.
now we will expect a further decline to the next major levels:
1.20 level is 2019's structure low and I truly believe that it is the current goal for sellers.
1.19 level is 2016's structure low...
for the entire month of April EURGBP is trading in sideways.
the pair is stuck in a wide 0.868 - 0.883 trading range.
the support of the range is based on a key weekly level.
the resistance of the range is based on a daily structure.
if you are a swing trader, the best option is to wait for a daily violation...
I noticed this falling trendline on 4H and daily chart and it looks like currently, it provides the strongest resistance for the crude price.
from the 20th of February each touch of the trendline led to a strong wave to the downside and this time we may see the same thing.
next week pay attention to 19.0 -...
GBPAUD broke a major rising trendline on a daily time frame!
now we can expect further bearish continuation to the next structure levels:
support 1 - 1.92 (based on a match between historical levels and 382 retracement of a major leg)
support 2 - 1.88 (based on a match between historical levels and 618 retracement of a...
potential harmonic bat pattern is forming on WTI.
what I like about this pattern is that its D point is lying perfectly on the current structure low = strong support.
our buy zone is between 19.2 - 20.3
from this area, we will expect a pullback to at least 23.0 / 25.3 levels
safest stop: 18.15
on EURUSD chart we see a perfect example of how a trader can variate a risk:
we have three perfect entry levels for long trade:
1.08 level - current structure (previous low)
1.07 level - current structure low
1.06 level - support of the major channel
1.06 level gives the safest long entry with a very tight...
What a roller coaster rallies on EURUSD .
Last week 800 pip drop ,
this week 500 pip pullback! Damn!!!
the market closed very very close to a resistance line of a major falling channel on Friday.
with a perfect match with a horizontal daily structure, we consider 1.15 - 1.24 to be a key decision area.
so many speculations about the future direction of sterling:
someone says that it is undervalued and it will soon recover,
someone says that corona will destroy British currency against usd.
to avoid this ambiguity I suggest you watch the reaction of the pair to 1.2 level.
it is truly a key level - brexit...
EURUSD is approaching a support line of a major falling channel .
though many traders have already jumped in longs aggressively,
be cautious and remember that here we trade against the trend.
because of high volatility there is a huge chance to see a false breakout with stop hunting,
so it is better to protect...
the third test of a 2016's low on GBPUSD .
it is a crucial moment for the pair and the future direction of the pound closely depends on its reaction.
I admit both scenarios and will be patiently watching market behavior within the underlined area.
taking into consideration current events, everything can happen so be...
major falling channel on a daily is on focus.
after a confirmed bullish breakout of its resistance last week,
the market has returned within the boundaries of the channel on Friday.
it makes me think that eurusd returns to its long term bearish trend and
during the next few weeks, we can anticipate bearish continuation...
gold has respected a major rising trendline one more time.
after a strong bearish rally yesterday we see clear unwillingness of sellers to push lower.
what is peculiar about this trendline is the fact that, though, the market attempted to break it
and even traded below that for a while during the US session, bears...