Double top with a nice engulfing candle at a level of major daily/4hr structure. This coincides with the 50 EMA acting as resistance also.
Also follows the direction of the new daily bearish trend (below).
(Also applies to EURJPY)
Approaching 2nd targets at the .618 level of the Advanced Cypher. Stops at breakeven. If we do not hit these and instead see a long entry reason (engulfing bullish candle) I'll probably consider exiting the position and opening a new long position.
Gartley completion at an area of daily support in the direction of the daily trend. This recent consolidation period acts as a pullback on the daily timeframe, forming a triangle pattern which we could see the breakout of soon (red line). This might pump to higher levels hence the 3 targets (0.382, 0.618, 4hr resistance zone). If wrong we shall be looking for...
Possible trend reversal here. We're entering an area of major support on the daily time frame. There is slight RSI divergence. Also, a Butterfly advanced formation completes nicely within the daily support zone.
Shorted this based on higher timeframe trends, daily resistance level, RSI overbought, Wavetrend Oscillator signal, 1hr double top with huge RSI divergence and an engulfing candle and now 4hr engulfing candle.
Just had a nice short position on this pair - Gartley completion with a double top and RSI divergence at an area of daily resistance. Came close to hitting second targets at the 61.8, hopefully we will hit this on the way down to the Cypher completion. Might be looking into entering a long position here based on the strength of the previous pump upwards. Even...
Looking out for 3 potential trend continuation entry reasons here. Currently at the 50 EMA which might act as support. Potential entry reasons here might be a bullish engulfing candle close above the EMA as seen at the Gartley B point. Failing this, the next entry reason would be the cypher D leg completion. Entry reasons could be a limit order at the D point or...
A Bat Pattern is on my radar for this pair. The C-D leg completes near an area of daily structure that has been tested as support multiple times. SL at the 1.272 of the AD leg. TP at the 0.382 retracement of AD leg. If first targets are met I shall be moving my stops to break even and leaving half of my position open to hit second targets at the 0.618 level.
A Bat Pattern has just completed on this pair, alongside oversold RSI with divergence. SL 10 pips below X. TP at the 0.382 and the 0.618 retracement of the AD leg. If first targets are hit, I will be closing half of the position and moving my stops to break even whilst trying to hit that second target.