GBPUSD was on an uptrend for the longest time on the 4 hour time-frame. a long bearish candlestick broke and closed below the diagonal support trendline. price became impulsive for a while. we waiting for a correction and retracement to either 61% or 78% on fib levels. then go short
so on my Daily time frame, my Daily Fib TP has not been met unfortunately due to rejections and the price finding daily close above Support zone. my expectations for GU is bullish so he can retest previous lower high (which is resistance) then retest again. expect market change of structure from significant downtrend to uptrend. H4 timeframe could play around...
Downtrend still supported on Daily. Lower Low created and according to Fibonacci retracement tool, rejections were left on the 61.8% level, intraday trade and looking for an entry, wait for a retest to the upside before going short. lastly the moving averages were touched on the fib level area.
USDCAD has been respecting the uptrend and bullish bias. once again we waiting for a retest to the downside and hit 61% or 38% fib level with this pair because it respects mostly those levels. then wait for confirmation to the upside, possibly a pin bar then go bullish
looking at UJ on the 4H chart shows a strong momentum to the upside, breaking a downtrend that was possibly in motion. wait for a retest to the downside before going long on an intraday trade. on the flipside if it reaches 115.00 and rejects and closes below then we should be looking at a double top and wait for confirmation to the downside.
firstly the market has strong bullish momentum from today's candlestick. 4H chart shows an uptrend to the upside and Fibonacci retracement tool tells us that price rejected on our 61.8% level and at the same time touching a psychological level 113.600. that level was a good buy for an intraday trade and watch the market rally. we looking for the market to move way...
GU broke my major downtrend with a trendline but has not broke structure thus the previous higher low. according to my Fibonacci, the market has retested the major trendline making it support while on a lower timeframe testing a horizontal support of the rejection wicks in the past. I'm expecting Fib level 78% to be rejected and the market to close above that...
GU has been on a major significant downtrend. just recently broke a psychological level and now has retested that. Fibonacci retracement tool confirms retest on a 38% level. currently on a lower time frame the market happened to be consolidation. wait for a a clear breakout then wait for a retest before going short
