4hr: Price retracing back into a resistance level
1hr: Price decelerating at this level and a series of rejection candles forming
5min: We can see price making a double top at R1 with huge divergence on the MACD
Looking for a retest of the 1hr 50ema as a target. Small day trade opportunity
Good luck in the markets.
Overall, we are still bearish in this market. I am looking for a pullback into a liquidity zone to take a short. On the 4hr, we have the 50 ema above current price, but there is also an area of potential resistance slightly above this. Will watch to see how this plays out.
Good luck all.
4hr - Price deceleration at support zone, currently rejecting this level
1hr - double bottom with bullish divergence on the MACD.
This is a quick play back up to the 1hr 50 ema. Extended targets at the 4hr 50 ema.
Price has decelerated at a historic support line - while creating lower lows. We can see on the MACD that there's bullish divergence. I will be taking a long position just above the daily high with a view to taking targets at the 50 ema. Although as this will be moving, I will be actively managing this position.
We're looking at a potential completion of a Head & Shoulders reversal pattern on the EURUSD Daily. What I will be looking at is a break and retest of the neckline which coincides with a support area of 1.20600. Targets - I will be looking to a push up to the 1.21900 resistance level.
Good Luck Traders
Looking at the completion of a bearish bat pattern on the 4 hr chart. Completion point at 144.333 (which is a nice resistance level) with 2 targets set. Target one completes at a re-test of a trend line which could be interesting.
Good luck traders.
Just an idea at this stage. If we can break and close about this resistance level, I will wait for a pullback into structure with a view to getting long. Analysis quickly outlined below.
AB=CD move up into resistance area of 0.71780
FIB Confluence of 50% ret
FIB extension into 1.618% level for targets into next level of resistance
Good luck traders
Just looking at some analysis on the AUDUSD 4hr chart. We've closed at a previous minor resistance level (0.77158). If we can break and close above, I will be looking for a pullback into what will be structure for a long position. Targets will be next level of resistance - with an AB=CD harmonic move and FIB extension confluence.
Just an idea at this stage....
Looking at a bearish bat pattern forming on the 15 minute chart. If price pushes up to the 0.73623 level, then i will enter the trade. Stops above X. 2 x targets set.
The 0.886% fib level sits at a nice level of structure.