Hi boys! Still sticking to this idea. Overall long term we see a HH and HL. Good RR ratio and the chart is pretty self explanatory. Today we got a newer high on the 4hr. Been holding this for a while, but just added another position.
The market bounced from 1.74000 support level. Double bottom and a bearish divergence give a trend reversal signal. MACD confirms upward movement and DMI allows open long trades. We have buy opportunity. Entry level for long trades is above 1.76200 with stop orders below 1.73850 level. Profit target should be at 1.79300 level.
Upside still remains.. 1.76 level still holds as a good support. Earlier on, we had a long trade and tp at a resistance zone. Now that price action is pretty bullish, I am seeing more upside to it.
Break 1.77 and we will see the 2 red base to shoot the price upwards. Let it slowly unfold. I am patiently waiting for a break up. Keyword : Break up
Trendline broke and almost used as resistance, potentionaly going to drop a little bit more and then go up.
Hey guys, Title says it all, if the 4th legs bounces of the support line big chance there will be a retracement to the top (or beyond this point). Kind regards, Khaine
Im expecting a fall to either one of the resistance levels or to the trend line
Breakout is confirmed, the restest is almost done. means that price might pull back at the support zone arround 1.73810 PS: control your lot size because the chart might go in the red space for a while before getting back in the green zone ENTRY: 1.73810// SL: 1.68649// TP1: 1.99948// TP2: 2.20288
On the daily we see a break and retest of the resistance. Looks like the bears are running out of steam and showing slight divergence on the RSI. This could be the beginning of the third wave. Long term can add up to 3000 pips on the elliot wave. It's already reached a record low and the higher highs and higher lows have kicked in. BUY!
GBPNZD has formed a bearish engulfing on the daily and weekly charts. A strong down trending support line supports this trade setup. SL set at 200 pips. TP set at previous lows.
The Sterling remains on the defensive ahead of UK inflation data due later in the EU session. GBP/NZD is in the red for the fourth successive week, more downside on cards. Ichi cloud weighs on the upside on weekly charts, momentum studies biased lower. Selling pressure around the Pound has exacerbated following election results, we see scope for test of major...
Setting up sell stop orders near 1.80787 with TPs @1.8000 and S1 pivot line. With NZD's recovery and UK's recent tragedy, this pair is more likely to at least drop down to 1.800 before possibly go ranging or bounce back up, depending on the UK general election result this coming June 8. D: W: Confidence: A