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.
We see a bullish flag pattern forming on the EURUSD on the 1hr chart. Usually these break to the upside. With a 1 to 1 equal measured move this will bring us to around the 1.20200 area.
Stay sharp traders.