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4H Analysis on EURGBPHello traders. On this 4H analysis of EURGBP , we have a double bottom setup. We can see that price was rejected twice from the 0.83870 region, creating our First Bottom (1ST BTM) and Second Bottom (2ND BTM). An entry reason for this long position would be a break and close above the neckline in the 0.84270 region. The 0.85100 region is seen as a good resistance level where price may go next. This setup is identical to the previous idea published on this currency pair.
Long
by javonjrb
4H Analysis on GoldHello traders. On this 4H analysis of Gold, we are once again at the resistance level in the 1795 region. Price may fall to our projected support level in the 1744 region again, or even lower this time. Only enter this short position if a valid entry reason appears, as there is also a possible chance of price heading higher to the resistance level in the 1795 region. This can happen if resistance becomes support. In this instance, our projected resistance level in the 1795 region is a good place to put your TP if you choose enter this long position.
OANDA:XAUUSD
by javonjrb
4H Analysis on NZDUSDHello traders. On this 4H analysis of NZDUSD we have a double top setup. We can see that the price was rejected twice from the 0.72150 region, creating our first and second top. Also, the neckline was formed in the 0.71370 region. An entry reason for this trade would be the strong rejection observed on the 1TF from the neckline in the 0.71370 region. The 0.70130 region is seen as a good support level where price may go next. Since this is a rather conservative entry reason, a SL should be placed somewhere above the 0.71370 region, although for me this setup really doesn't invalidates until the double top is broken before reaching the projected target.
Short
by javonjrb
1