From the daily we can see price is still in a downtrend. It made a quick retracement to .382, hit supply then briefly headed down. So we know our macro trend is bearish. If we zoom in to 4H now we see the price has pierced the .382 level on the most recent fibs based on price action Zoom in to 1H we can see a rising wedge--now we see if the market will give us a...
Always wanted to learn about harmonics so I bought a Udemy course. This is me applying it.
We're now in a major uptrend market with structure experiencing several major corrections, however the previous lower high hasn't been broken yet thus remains our thesis. Several things to note: - This is a buyers market with price structure experiencing several major corrections - From the daily chart, we can see price reached a high that was last touched on...
Major uptrend! - Price is experiencing a major correction - From the highest point prior to the push down, we saw price retrace to 38.2 and has now retraced to 23.6 - Sellers are trying to push the price down - Could form an inverted head and shoulders - At any case we're waiting for a buy signal - Will only enter if it breaks trendline, forms inverted H&S,...
GBPUSD is a sellers market right now! - Daily overall trend is bullish and market seems to be going through major correction - Zoom in to H4 and you will find that the market is still showing bearish signs - However zoom in to H1, you will see price forming a possible wammie with RSI divergence As the saying goes, sell in a sellers market and buy in a buyers...
(Couldn't sleep so might as well have some fun) - Overall market trend based on daily chart is bullish. - Price has experienced several noticeable retracements; one of which we used to plot the Fibonacci zones - Price respected these zones on H4 noticeably - H1 shows strong bullish momentum however the bearish candles are bigger in contrast to the bullish...
Price is currently in a bullish momentum as price is making higher highs along in accordance with the overall market trend. For us to get on a bullish trend we would need bullish confluence. Nonetheless we must pay attention to any bullish market structure and patterns. The analysis might seem a bit convoluted but what we're basically seeing is the market...
(Really wish there was an option to share charts of different timeframes) Howdy folks: - Bullish trend's market structure was recently broken and now we're looking at a bearish market - Daily chart shows substantial bearish momentum - H4 chart exemplified two head and shoulders that were sort of meshed together - H1 chart also shows strong bearish...