Bearish bat formed nicely on 4hr timeframe. Price also struggling to break weekly resistance. Two black lines show areas of significant support so will be interesting to see if we can hit final TP st 1.09000 level
Price has a coulple of signifiant levels to break to it will be interesting to see how this trade plays out following my strategy. Yellow zone signifies a potential buy area
Yellow box is where i will be looking to enter this trade with three TP zones. Before entering also i will be looking for confirmations from the candle formations and if counter trend line has been broken. yellow zone indicates a completion in the bearish harmonic pattern. Resistance at the 85.660 level showing price might not even break this but reverse at this...
Im not really one to trade countertrends, but i feel we could still see a small push from the bulls by the end of this week back up to resisting trend line. Im hoping after we see this small push back there will be a strong bear push down to break the counter trend and for us to find an entry into a potential long term sell. News has made pair very volatile this past week
Double top formed showing signs of more bearish movement
Short Harmonic Pattern GBPCAD
GBPCAD Short Position Entry: 1.76299 SL: 1.77100 TP: 1.74993 Bearish Nen Star formed on the 4 Hr chart Currency pair currently in a downtrend and has bounced off the 50% fib retracement level but not taking profit back at 0% level as this is out of my trendlines Price Struggling to break Daily support - Only time broken was due to Fundamental News Stochastic...
EURGBP Sell Entry Price: 0.88497 SL: 0.88800 TP: 0.87311 Price bouncing off Monthly resistance (Pink Horizontal line) Forming Lower high Within Trend channel Price has broken out of rectangle but this could potentially be buyers running out of steam Stochastic over bought Fundamental news for GBP tomorrow which if positive could see price take a dive
Cypher pattern formed on daily Price floating between the 1.09310 and 1.80660 levels price also resisting the 61.8% level on H1 chart Short term trade looking for TP1 at Daily support 1.80660 level
AUDNZD Short Position Price Entry: 1.07760 SL: 1.08079 TP: 1.07106 Harmonic Pattern Completed at 61.85 retracement level drew from C to D Now we are seeing a push from the bulls but struggling to break the 1.07740 level - we have seen price touch three times without breaking Raising wedge now formed indicating a Strong sell coming Double top also backs this up...