We already have double top on H4 n it has been broken, we can take our target to our support zone n wait for reversal patterns or continuous ones since im expecting for it to push down all the way to our support trend line.
I put the call to actions on the chart.
Using a combination of daily and weekly camarilla pivots and the cpr central pivot range.
Wide cpr says that a ranging day is more possible than not as the lower timeframes are oversold
reguardless the stop loss levels are pretty nearby so if it broke up the stoploss is tight.
Breakdown levels also provided
What a great start of the week with BTC giving us such relief! Cannot say we are surprised, as we've called a ranging structure on BTC almost 1 month ago, and it has been doing just that eversince.
I know that the chart is a little busy but pay close attention to every small detail.
- See the range between 32k and 40,5k
- See the descending trendline on the 4hr...
GBPUSD could not break out of support level, price rejected with a hammer on the H4 chart. We are still trading between support and resistance levels.
I will let you know when I identify a clean sell from resistance. Or if price breaks out of one of these levels
GBPUSD SELL. Price is getting ready to break out of its ranging period.
You can aim target for the next support levels.
Sl should be above the upper wick where the rejection was seen.
This trade gives us an amazing Risk:reward ratio.
We had a breakout to the upside from the ranging market but NFP made it come back to the mid-range zone.
Here the candle confirmation is very vital, there are 2 possibilities, price completing the inefficiency caused due to NFP and continue rising or even drop for common demand zone (bottom green line) and make it way back up for the supply.
Anyway, we go long...
GBPUSD could not break support, price formed BULLISH ENGOLFING BAR at support level. We can enter after the close of this pattern. TP resistance, SL below the pattern.
Price has a good chance of reflecting from the Demand Zone to reach the Supply Zone.
However, it would be good if we wait for a retest and seek good confirmation candles with an appropriate candle sign.
Never risk more than 0.5% risk per trade and aim for a 2 RR at least, 3 would be better.
Good luck.
GBPJPY Price Analysis
The GBPJPY shows a very clear bullish trend on the daily chart. Tide may soon change as the trend is seen to fade into a consolidation. Price has been ranging between 148.500 and 153. 500
GBPJPY Price Prospects
Prices have been rising and falling between the borders of the Bollinger Bands since the 18th of March. This is quite different...
Although it should be mentioned the weekly closes soon and it will bring possibly a change of price action. the current levels and call to actions for the daily are here. could short H3 (stop at H4) targets L3 (and see if beyond) alternatively you could do the same on L3 if you already did could consider what to do soon before new york opens. and...
It is a tricky place here for a pivot point trader with camarilla as far as the next large move goes. The general correction I could see having another low test at perhaps upper 40s or low 50s again. I could also see us breaking lower to 44k or even higher out of these range again. One thing Iwould like to point out along with this lovely chart. Is that the...
I think It might possibly play out with a strike of H5 which is the intraday targets that normally get hit after the H4 has already been broke.
then it is possible it does the same thing in reverse for the weekly levels on the down side. Would synce up with linear regression channels.
If you are intraday long your stop would probably be H3. if you are...
Last week our target at $1440 had not been achieved, the price went down and made a retracement at the end of the week.
Overall it is not a Sell yet, we are still within Buyers area ($13.90 to $14.24).
The immediate Decision Point (DP) is at $14.24 where if it breaks, then we anticipated that it will go to our $14.40 level (which we will sell).
If it doesn't...
Well, it is one candle at the leading edge. We cannot know if it means anything until stuff happens. Those who look for predictions that foretell the future are in the wrong game.
In trend-following methodologies, one would ride an escalator down or up - on a smaller time frame that that shown here (to conserve losses).
When you zoom out of this chart, you see...
