desty4fx

desty4fx

Price is heading for a second retest of a daily resistance

desty4fx

PRICE HAS BROKEN WEEKLY RESISTANCE AND YOU CAN SEE THAT PRICE STILL HAVE MOMENTUM ON THE WEAKLY TIME FRAME, BUT PRICE WILL PROBABLY GO FOR A WICK FILL OF THE MONTHLY SUPPORT

desty4fx

OVERALL TREND FROM HIGH TIME FRAME IS DOWN PRICE HAS RETESTED DAILY RESISTANCE AFTER THE DAILY BREAKOUT AND PRICE IS ALSO REJECTING THE DAILY ZONE ON 4H WITH LOST OF RANGING IN THAT AREA BUT THERE WILL BE A GBP NEW TOMORROW, SO WE STILL HAVE TO WATCH FOR NOW

desty4fx

PRICE IS CURRENTLY ON A MONTHLY SO AND HAS BROKEN OUT, BUT SILL NEED A BULLISH CANDLE CLOSING ABOVE THE LINE BEFORE ENTERING TO CONFIRM THE BUYERS TAKING OVER

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Trend line analysis

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Price has hit a key weekly resistance and about to reverse back down. The long term Trending was broken on Daily TF

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PRICE IS CURRENTLY ON SUPPORT AND ALSO PRICE IS PERFECTLY INLINE WITH FIB 68.1 RETRACEMENT.

desty4fx

Weekly Trend is down trend on daily Time frame there was a restest on weekly support We had time frame confluence due to the restest of weekly resistance and also the restest was done on the daily. Wait for the close of the bearish candle on 1H or 4H before going short. Risk reward 4:8

desty4fx

Time frame confluence: Week show a bearish formation, same as daily Pattern: There is a double top formation on both weekly and daily time frame Price has reject the 50 EMA twice Target: 0.6500, which is closer to the next Daily SR Risk Reward is 2:9