Bullish hammer on the daily.
Going long off the retest of the head of the hammer.
Target: Swing high
Stop: Below the thrust candle that broke resistance
- Downtrend since 1st September.
- I’ve identified previous Support between 123.00 and 123.15, which has been broken and now flipped to Resistance.
- Price has come up to the trendline and retested Resistance, and then rejected 20 pips, forming a Bearish reversal candle on the 4H chart.
- Selling Volume has increased 25% on this bearish candle.
- Price has...
Awaiting a nice short setup of GBPAUD this week.
A clear break of the blue support box is needed.
After that wait for a retest of the trendline and Blue box area with a clear rejection in the form of a doji / railroad tracks
Then Short with Stop above the trend line.
