Price is currently consolidating at a major key level 1.72000. Trades will be take on the break and the retest of the consolidation zone.
My bias is short unless price breaks and retests our triple top level of 0.66830. Only in this instance will I go long upon valid confirmations. There are 2 possible entries here, shorts will only be taken following the break and retest of 0.66350 or a rejection from the 0.66830 (Triple Top Level). NO TRADE SHOULD BE TAKEN UNLESS THESE SCENARIOS ARE MET .......
I Will be looking to short from the 0.91000 level or the 3rd trend line touch following bearish confirmations/signals. CONVERSELY If price breaks and retest the TL @ 0.91000 I will go long following a valid retest and bullish confirmation. NO TRADE SHOULD BE TAKEN UNLESS ONE OF THE SCENARIOS ARE MET .... (DISCIPLINE) !!!!!!!
Expecting price to retest previous structure before a possible 50 - 100 pip decline. If price breaks support, I will be expecting a retest before going short. My bias is Short so i will only get in if price meets my requirements (DISCIPLINE) !!!!!!!
1. BULLISH BAT 2. MAJOR SUPPORT LEVEL 0.67000 3. BOTTOM OF CHANNEL. 4. DOUBLE BOTTOM FORMATION WAIT .,... BE PATIENT ... WATCH HOW PRICE REACTS @ THIS LEVEL AND LOOK FOR YOUR ENTRY SIGNAL.... You're Welcome x
Alternative EURJPY scale in opportunity for 100 pips
AnOtHeR OpPoRtUnItY To GeT InTo EURJPY - new HL, Inverse H&S
If price gets to the D completion of the bat pattern & the 1.33150 zone, I will short for 140 pips there are 4 major confluences from that level, can u spot themI
MULTI TIMEFRAME CORRELATION - AUDUSD
look for bearish candle formations before going short conversely, Look for bullish candle formations before going long
& Now we wait ...... patience. EURCAD short opportunity (ONLY IF WE GET A BREAK AND RETEST OF THE 1.48600 LEVEL)
This simple guide was designed to help aspiring traders understand the structure of the markets. Structure is apparent on all Timeframes so it is imperative that you familiarise yourself with it. If u have any questions on this topic feel free to msg me x
Expecting price to rally to the 81.600 zone before further decline and continuation of the overall trend.