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23/9/2020 PASUKGB - Testing strong support1. Gap up on 1st Sep followed by higher price with high volume on the next day made the 0.08-0.085 area a strong support. 2. Coincidentally, daily EMA50 line is also now at 0.085 area make it one of highly congested area. Scenario 1 : The price will testing support before bounce back (BULLISH) Scenario 2 : The daily candle will fill the gap between 0.08 and 0.085 tomorrow before continue climbing up the next day (BULLISH) Scenario 3 : If the price continue goes down and break support with high volume, the bearish pattern will continue (BEARISH) Scenario 4 : If gap down occur tomorrow 24/9/2020 and price open 0.08 or below and daily candle closed below 0.08, island reversal pattern will be formed and price will continue go down. (BEARISH) EP 0.085 TP 0.105 CL 0.075 This is a trading idea and not a buy call.
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by zek_khamzah
My attempt at analyzing Trends I am still learning the terms but I think I understand the patterns, this looks like the market is currently stagnant in the middle of consolidation. Before this it was in a downtrend and I do not think it is going to keep going down. I am trying to capture 20 pips only and looking for the best entry, where to place stop loss and where to place take profit. I believe I would be buying, I think the market will turn bullish. Am i way off or does that make any sense? I have circled points of resistance and support, drawn out the few uptrend lines I could see, and all of the downtrend lines. I used parallel channels to shoe support and resistance zones. Price Ceiling and floor are also marked on here. Thanks
by allreadyallright
3
EURUSD 15 min chart for smaller Analysis Market currently in a downtrend on the hourly from the weekend close came to retest the 38.20 % broke through to retest and bounced from the 23.6 fib level which happens to be the crown of the Head and Shoulder potential move 4 HR and daily say head and shoulder pattern for confluence . Market is available with bullish momentum in previous daily candles for take profits on the short Market looking to go down first 2 take profits set on the min chart AT Hourly TP can be set using the 4 hr n daily using the 15 min chart - take profit before entering the hourly marks TP AT 1.18141 SL ABOVE AT 1.18562 2ND TP AT 1.17588 5 MIN CHART used to see tp and stop lost clearer Market could go a bit higher to even the necks for a balance short
by carviann