Daily Pinbar at Structure: time to retrace?Hi guys,
as you can see on the left hand side of your screen we're up to a previous level of structure. And in doing so, price has formed a nice pinbar showing buying pressure. When i look at the 4 hr chart then, an engulfing pattern appears following a pinbar, and that gives me reasons to believe we could see a reversal at this point. With a little retracement, i'll go long with stops below the lows, and targets as shown.
If you have questions/ideas, please let me know down below.
Otherwise, see you in the next chart!
Pin Bar
Reversal Pattern at Daily Structure on AUDUSDHi guys,
as you can see on the left hand side of your screen we're up to a previous level of structure. And in doing so, price has formed a nice pinbar showing buying pressure. When i look at the 4 hr chart then, an engulfing pattern appears following a pinbar, and that gives me reasons to believe we could see a reversal at this point. With a little retracement, i'll go long with stops below the lows, and targets as shown.
If you have questions/ideas, please let me know down below.
Otherwise, see you in the next chart!
USDJPY DAILY:Price back at the top of its channel, we have multiple rejections to resistance & a pin bar rejecting its downtrend line & strong level as well. I believe it is time for this pair to head down, last time a pin bar rejected at the top of this channel price fell hard. Watching for a break of 112.500 support now.
Trend continuation trade on GBPUSDHi guys,
this time you see a weekly chart side by side with a 4hr chart. I don't usually use the weekly chart but in this case i want to emphasize why am i looking to buy this up: the higher high higher close beyond previous structure is a very strong sign of the strength of the pound right now against the dollar. Therefore, as soon as i get the opportunity, i will consider to buy the sterlin. And here's the chance on the 4hr chart, a reversal candlestick pattern formed by a pinbar+ engulfing candle AT previous daily and weekly structure. All this add togheter and creates the condition for me to take this trade.
With a little retracement, i'll buy with stops below the lows and targets as shown: if we see new highs we could go all the way up to 1,38!
If you want to share your ideas/questions, feel free to comment below.
Otherwise, see you in the next chart!
P.S. Please note this is not an investment advice: this is only the result of my analysis. Be safe!
TCT trade on GBPUSDHi guys,
this time you see a weekly chart side by side with a 4hr chart. I don't usually use the weekly chart but in this case i want to emphasize why am i looking to buy this up: the higher high higher close beyond previous structure is a very strong sign of the strength of the pound right now against the dollar. Therefore, as soon as i get the opportunity, i will consider to buy the sterlin. And here's the chance on the 4hr chart, a reversal candlestick pattern formed by a pinbar+ engulfing candle AT previous daily and weekly structure. All this add togheter and creates the condition for me to take this trade.
With a little retracement, i'll buy with stops below the lows and targets as shown: if we see new highs we could go all the way up to 1,38!
If you want to share your ideas/questions, feel free to comment below.
Otherwise, see you in the next chart!
P.S. Please note this is not an investment advice: this is only the result of my analysis. Be safe!
The End of the Bull Run for OZ?As of 8th September, a pin bar has formed at the top of the AUDUSD's bullish trend. Based on the price action, this is a strong sign of the bull is getting weaken. And this is also confirmed with the divergence formed between the price (higher high and higher low) and RSI(14) + Stochastic(14) (lower high lower low). If price can close below 0.804 by 11th September, it will be a very good sign to enter a short trade.