Fxtrading
GBPJPY: Huuuge Pattern! Do You See It? 🇬🇧🇯🇵
GBPJPY formed a huge cup & handle pattern formation.
The market is currently testing its neckline.
If the price breaks and closes above that, it will initiate a bullish continuation.
Next goal for buyers will be 174.7
In order to confirm a breakout, we will need a daily candle close above.
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AUD/USD still on shortFirst, if you found this helpful please like and leave a comment in the comment section for more discussion, and don't also forget to follow for more updates
AUD/USD still needs to complete the bearish correction before the bull starts another impulse moves. To me, we should be expecting a bearish impulse throughout next week to complete WAVE C. Goodluck
SELL TRADE SETUP ON GBPAUDHey Traders,
Check this sell opportunity on GBPAUS, after the break of the lower band ascending channel.
Price went back up to retest and confluence with the previous OB / supply area.
After the break of the ABC pattern, a sell opportunity can be look for.
Alternatively, a break above the supply could mean more bullish movement
Stay close.
Potential Sell Opportunity - GBP/NZDI will be considering a sell when the 1HR closes. The market must trade through the current 1HR Low for a validated entry. The market is reacting beautifully to the 2.01000 level with rejection. Also the 20EMA/50MA are in a confirmed downtrend. I will be taking this trade into new lows as a target.
SUGARUSD Bearish ShortTrading AnalysisSUGAR RAWUSD
Bearish trend forming for Sugar Commodity
We are seeing a Elliot 5 pattern way theory occurring as well on the 2-3 hour charts.
But most importantly sugar is spiraling down towards a major support level. Clearly the uptrend has broken it's trend line with a fake cat bounce/retest making it definite the reversal has occurred.
FIB LEVELS also mention that the support is a crucial zone of interest. As it could reverse or keeping it's bearishness due to it's heavy many spikes of volume.
A parallel channel has formed. I would place a sell limit in it's latest order block as seen in the picture, also to mention that there are many inside bar candles in this order block which can be used efficiently for the right trade, in this scenario shorting.
A nice 650+ pip move if all goes as speculated.
- David van Delden