The market made a STOP HUNT and Stopped some of the sellers in the market. The price didn't break the resistance and is still safe to short. The RSI also made a HIDDEN BEARISH DIVERGENCE which adds another confluence that the BULLS cannot push the market further to the upside. We will only target the past resistance because of the "W" formation and it might push...
As you can see, the chart is creating a Head and Shoulders pattern, signifying that the uptrend is almost over. But, are we going to short it immediately? NO. We are going to patiently wait for the pattern to break its neckline labeled above. After the H4 break, you can actually short it immediately for a momentum play OR you can wait for a retest of that...
This type of triangle chart pattern occurs when there is a resistance level and a slope of higher lows. What happens during this time is that there is a certain level that the buyers cannot seem to exceed. However, they are gradually starting to push the price up as evident by the higher lows. In the chart above, you can see that the buyers are starting to gain...
Our continuation bias have been confirmed in the H1. The price made a retest at 0.91694 and formed a hidden bullish divergence for a possible continuation of the uptrend.
The impulse on the upside have reached it's exhaustion, proved by the price action hanging candlesticks on a key resistance level. Now we are just waiting for a retest and possibly continue it's upward momentum.
Fundamentally speaking, THE USD is finally gaining some power. It might push all of the USD pairs to the upside. On the technical side, we see this break of structure and a retest. Simple as that. Opened two buy positions. 1 for TP 1 and the other is a runner, hoping to hit TP 2 and TP 3. If it doesn't hit TP 2 or TP 3, move stop loss to breakeven or bag a little...
If the price will break the support trend line, we can actually sell it right away by simply going to the lower time frames to snipe your entry for a momentum play. But for me, I will wait for a retest on the horizontal support level for higher probability.
YOUR CHOICE!
PATIENCE IS KEY,
HOPE
Disclaimer: Not all trading strategies are 100% accurate. Do your...
As we all know, D1 is creating a rising wedge pattern and broke the support trend line last Friday. On the H4, it proves that it is indeed a bearish signal as the price broke the D1 trend line and the 50 EMA creating ourselves a time frame confluence and that our bearish bias is approved.
For our entry, on the H1, I saw a hidden bearish divergence indicating a...
