Following my analysis on price action of the GBPNZD pair, the market shows an unyielding presence of bears who wish the push price lower. A look at the weekly chart taking into consideration the previous market swings shows a bearish flag pattern formation and the previous week’s close left an evening star formation behind indicating the presence of bears in the...
NZDCAD might be giving a morning star candle formation. Waiting for the close of the present 4 hour candle before making the decision to enter a long position, or not. TP=0.89373, Risk to reward is about 1:4
waiting to see price retrace to the supply and demand area and we might have a short setup on EURUSD. I'll be waiting for a signal form price action (multiple wick rejections, pin bars, an engulfing candle ). my SL will be a few pips above the area and my TP target will be the next level of demand identified on my chart providing with a RR ratio of 1:3.
Since my last published idea on the cable, I still maintain a bearish bias on the GBPUSD pair seeing that price failed to make a higher-high even after hitting my stop-loss on the short position. Well I've had to erase my previous drawings and had my lines drawn again and I believe I saw the market in a different way. On the daily time frame I took note of the...
I took a look at the EURUSD chart in a daily time frame and its presently in a ranging market, seeing that neither buyers or sellers have been able to push it past its support at 1.07841 and its resistance at 1.10028 since its previous downtrend. I believe the market is in an accumulation phase.
After drawing obvious support and resistance areas on a 4hr time...
