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Innertrendline

GBPUSD - No Lower Low --> Up-Movement expectedHi Traders! The market is in a strong Downtrend, especially after the Breakout of the weekly Trendline. But since then, it seems like the marke isn't really pushing downwards. Firstly, we just had a little bit Lower Low and this time, there isn't even any Lower Low. This potentially indicates bullish strength. The first target would be the outer Trendline and the second target the last high/top. Thanks and successful Trading :-)!
Long
by swissmoneymakers
CHFJPY inside Schiff Pitchfork.At first, I see that CHFJPY respects its trendline, then I added Schiff Pitchfork that provides clearer levels of the price movement. I consider the 0.5 line of Pitchfork as an inner trend line and the 1.0 line of Pitchfork as the main trend line. Now the movement of price seems slow, that I predict the price will move down first to take more orders to rise. In the next supply zone, the traders would take profit that makes the price will retrace a bit. Afterward, the price will continue the trend and break the supply zone. *For education only* *Risk management is number one*
Long
by FranRizmy
2
USD/JPY Short Setup USD/JPY has formed consecutive lower highs indicating a bear market on the H4. On the daily you can see price bouncing off the daily support of 110.07 few weeks ago and retraced to the 61.8% fibonacci level before continuing the bearish momentum. Price has struggled to break the H4 resistance level of around 111.41, forming spinning tops and dojis with long wicks implying uncertainty around this key area and a possibility of a reversal to the downside. Price action has started to consolidate on the hourly suggesting the bullish momentum could be over and a bearish breakout is awaiting after a series of rejection taking place. In terms of the fundamentals, the ongoing tensions between the US and China should boost the Yen at a greater rate than the Dollar strengthening, due to the Japanese Yen being a more attractive safe haven currency, hence supporting my short bias of USD/JPY in the coming days. 70 pips target with 35 pips stop loss, 1:2 risk/reward.
Short
by Shivam_93
2
EUR/USD Short SetupEUR/USD could have finished its retracement after a series of bearish momentum. The 61.8 fibonacci level seems to be holding up as price has rejected it on the H4 a couple of times. You can see a doji and spinning top on the H1 which suggests uncertainty around this level and potential reversal to the downside as PA seems to be exhausted around 1.1655. Price has reached its inner trend line which could seem to have halted price surging to the upside and indicate that the bears are coming in with great selling pressure. If we do see price fall to the daily support level of around 1.1530, this would then form the right shoulder and therefore complete the potential H&S pattern, which could then consequently push price to 1.1450, the weekly support level. Target is 100 pips with a stop of 50 pips, 1:2 risk/reward.
Short
by Shivam_93
EURGBP H4 Broke inner trend line & bounced of Support levelIntroduction to my analysis: 1) Price Action is KING- I'm a sole believer in price action, you will see me incorporating price action theory into my analysis. 2) Simplicity is key - I love to keep my charts neat and tidy! The more indicators you have on your chart, the more complicated your chart is. Thus, affecting your bias of that market. Let me introduce you to my 3 great trading friends... THE 20, 50 & 100 MA!!! 3) The mind! - My analysis may not always be right, nobody is, it's just my opinion and point of view. There's no right or wrong in any market analysis, the only thing is belief. Believe in me and my analysis, let the result be the light to the dark cloud hovering your thoughts about trading. 4) Please feel free to comment and feedback to me about my analysis & on your views about the market. Through sharing, we grow together as a trader or even better as friends! OANDA:EURGBP Good day, my friends!!! Saw this great example of inner trend line breakout and I thought of sharing with my friends in here! - Price broke the inner downtrend line as circled on the chart & retest again in the next 4 candlesticks. - Price bounced off inner downtrend line and rallied higher. - At the same time, price also bounced off the Support line @ 0.87372 - Subsequently formed higher highs and higher lows towards the next resistance @ 0.88043 - Price is hovering around the resistance area. - Ready to go long once it closes above the resistance area @ 0.88271 - Get a quick profit at next resistance area @ 0.88843 - Stop loss at previous low! Take note: This should be a quick take and go profit! So be disciplined and do not be greedy to go on further as the daily time frame shows the otherwise. Good trade ahead!! Feel free to comment and feedback on my analysis so I can provide you all a better analysis as time goes by! Regards, Kayden "Simplicity is the ultimate sophistication" - Leonardo da Vinci
Long
by TraderMindMastery