This is a market update for my primary pairs that i send to my public group chat for the dollar , nasdaq , us30 and gold , i am currently testing my strategy and updates , so feedback will be appreciated very much , looking to improve as time goes and hopefully be able to help and build other traders who look at the market similarly
Looking at the daily chart of EURGBP, Using the fib tool . There was a 78% fib bounce and currently the 61% fib level test and simultaneous buying area . On the other hand , looking at the downtrend theres selling pressure at the 38% and 23% retracement levels , so ill be watching there for a failiure of bullish pressure , but theres a strong buy sentiment for the...
Momentum on GBP/Jpy closed bullish and turned at a daily area of value, 61% Fib and a trend line touch, expecting a touch of the upper channel trendline above the highs depending on behavior below the most recent highs and If price fails, I could be looking at a longer term sell, but looking at the fact that this chart is in a long term bullish trend, the odds are...
Possible trend bounce for GBP/JPY , will wait on a daily close above the trend and further trend behavior & confirmations for full confirmation on this entry.
GOT THE THIRD TOUCH I WAS WAITING ON . ENTRY 1 IS ACTIVE , WILL BE MANAGING THE TRADE AS IT MOVES , IF MY STOP IS TAKEN OUT , ILL WAIT FOR THE CANDLESTICK FORMATION FOR A MOVE EITHER DIRECTION , BUT FOR NOW , IM IN LONG , WATCHING THE 1.4000 AS A TP1 FOR POSSIBLE SHORT IDEAS. AND TOP OF THE RANGE FOR THE CURRENT LONG .
retest of long term uptrend, short term short , higher risk entry due to the ranging area. wait for the break of area, look at previous post for a clearer few of larger timeframe
So looking at a long possibility will be looking at a move, or close above @1863.50 which i have marked on the chart in between the ranging area , so also looking at a short below the support @1828.50, but at the same time I'm looking for a clear retest of the daily upward trend for clear short opportunity to add to the bearish hammer at the top of the range. but...
