blackgordongekko

blackgordongekko

We have been in a strong uptrend for a while now however I believe we have entered a zone of weakness to momentum. We had an old supply zone at 1.53432 which we capitalised on and the next one is at 1.5545 area which has halted our strong upward movement. We are currently slowing at a double top and so I believe we should see a retracement. I've set TP just above...

blackgordongekko

Entered at 1.81562 based on cloned AB leg on Gartley pattern. Target 1 at 1.82319 and Target 2 at 1.82818. Kept a relatively tight stop here below the 1.81393 support/resistance line.

blackgordongekko

Minor supply zone at 11.73864 Ideally we would have like for price to have had a bit stronger bearish response to this area however we could potentially see GBPSEK going short to around 11.64708 if the zone is respected. The entry also falls between the 786 and 886 fib lines which adds confidence. Depending on stops we could see somewhere between 2 and 3...

blackgordongekko

There is a minor supply level from 19 June which should take us short, I find supply/demand zones from the 8 hour chart are not overly strong and the recent bullish moves may prove hard to push past but decent Risk:Reward so I left the trade to be opened by order so lets see how it plays out

blackgordongekko

Two demand zones I can see on the charts, confluence with many other indicators such as the fact that potentially if the BC leg completes, then Demand Zone 1 would also be in the same area as where the Gartley Pattern would complete or if a Bat Pattern is formed then Demand Zone 2 may come in to play, I would likely have the same target for both with initial...

blackgordongekko

I believe we will see a break of resistance at the 1.8239 area with a target of 1.83486. This is backed up by the fact that the channel we are currently in is bullish and has been for some time, the entry was determined by confluence of the 618 fib retracement level and the long standing support/resistance we have at 1.81784 which was recently rejected 3 times....