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EURCHF BuyPrice on EURCHF is trending down and hit a major support zone. There is a good probability price will reject off this support zone and pull up. I am a trend trader and the break of structure I labelled indicates the end of the trend and a chance of a reversal. To trade this reversal I need price to pull back and it has. Now I place a buy trade anticipating the market to reverse off the support because the downtrend might have ended. I have a really good risk to reward ratio. Now I remain patient and pray the price trends up.
Long
by StephenAdeniken
EUR/USD: detailed chart mark-up. What is the next move?Looking at higher-timeframe charts of EUR/USD , we may notice that initially, the price has been trading within the borders of the ascending channel plotted on the graph. Afterwards, the price started consolidating in a sideways-moving rectangular box and it was unable to break above or below due to the lack of liquidity during the holiday season. This week, as soon as momentum kicked in, a massive bearish candle was printed and the lower barrier of the rectangular box was successfully penetrated. At the moment, we may observe that the price is pulling back and correcting the recent impulsive leg before potentially continuing its bearish moves. Thus, we are eyeing the zone plotted on the chart (important resistance that lines up with the 61.8% Fibonacci level) and awaiting some development around that area before executing short positions and aiming for the South.
Short
by Investroy
16
GBPAUD UPDATEGBPAUD Finally made that move above above the highs as projected in my previous analysis (linked above). Now stops have been removed and final buyers induced into the market I am looking for a big rollover. 4H candle closes in less than a hour and it looks as though it will be a strong bearish close off the key 1.82500 level..... on the LTF price has made a BOS off the Asian session high I'm looking for an entry on the retest of the last Order block which created the BOS - First key target area 1.80000
Short
by ITSCRYPTO1
1
Why GBPUSD Fell.. And why you should've anticipated it..Hey Traders, As you may have saw previously I did many Posts and videos regarding GBPUSD. We discussed how strong sentiment for USD Weakness was pulling GBPUSD up into further key resistance BUT there was still room to go. Now for many Traders who solely rely on 'Line hitting' for reversals.. it may not have gone so well.. So remember, we are not looking for lines to be hit (i.e. Touch and hit away theories).. Gauge the temperature of the market with indicators. Do not use them as line hitting methods. If you always rely on hitting lines you will be whacked out the market. Line hitting does not incorporate Key PA levels it just takes a price average over time from data on the screen. Instead, look back. Remember what has gone on and use it for future market trading. Do not spend or waste your time guessing.. And always remember, Prices rise and fall to AREAS not points to 0.0001 Place. IMO GBPUSD likely to drift amongst prev early support. Only Light longs drastically lower due to high price. Any further hits up will be light shorts on rebound. Trade Safe.
by WillSebastian
2