Thoughts on GBPUSDBefore the details, there's something undeniable and is the fact that the price has been bullish for the time frame that we're analyzing and the it makes sense for that time frame for a head and shoulders to be formed.
At this moment, there may be a possibility to go bearish because of the head and shulders. But we have to wait for the rest as shown in the analysis. The ideal retest I'd like to see is at 1.24820. We're just going to operate until the first TP.
If the pattern is right, we will also see a bullish opportunity, but I'll take about later when we see market move downwards. But for starters, there could be an ideal AB=CD pattern at the first TP of the head and shoulders. There will be also an ideal Gartley pattern but that has exceded the 0.786 entry. It'll react at 0.886 in that case the entry price could be at 1.2383.
Harmonicforex
EURAUD > Bullish Harmonic Bat Pattern!Analysis of #EURAUD
bullish harmonic bat pattern near the strong demand zone might complete soon to provide a reason for a buy entry.
Aggressive entry: limit order at D leg completion
Conservative entry: reversal pattern inside the demand zone on the lower time frame
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USDCHF LongTime Frame: 1H
Symbol: USDCHF
Entry: 0.96015
TP: 0.96572
SL: 0.95669
Bias: Long
Current price study of this instrument is revealing a short term bullish opportunity. Though it is really difficult to find high probability opportunities or setup nowadays , the average directional bias for this pair is on the bull side. So we are planning a short term momentum trade.
JPYUSD ShortTime Frame: 4H
Symbol: JPYUSD
Entry: 0.007721
TP: 0.007518
SL: 0.007857
Bias: Short
The current price projection for this instrument is showing a bearish bias and that is the reason we anticipate a high probability selling setup from the current context. Though it is an obvious sell signal, trade should be placed with proper caution.
JPYUSD NeutralTime Frame: 4H
Symbol: JPYUSD
Bias: Neutral
It is self evident that if the momentum and volatility are absent in the market, there is little or no chance to make money positioning based on directional probability. The example is still valid for this instrument . We do not see any hope for the time being.