Quarterstheory
GBP/JPYWe could possibly see a break of the 135.200 area we are currently at a 61.8 retracement Fibonacci level as well as a QP level so we could go straight up or we could re-trace a little bit more we could even retrace down to the 134.000 area to drive back up. I am still bullish on this pair until the market tells me otherwise we haven’t broken any major level of structure to turn into a bearish market as of yet.
$EURGBP #EURGBP - Intraday Trend Trade, Long into .9100/.9125entry - (0.9075) Wendesday Early morning London / Pre NY orderflow
SL / invalidation - 25 pips (.9050)... cut the trade below this level if it does not go to script
Profit Targets:
1:1 - (.9100)
1:2 - (.9125) or leave the second order open and trail sl
1:3 - (.9150) or leave the third order open
Euro looks stretched so I'm not gonna push it too too far but I like this coming into .9100 + based on current market flow & sentiment + technical market structure, current 4h / 1hr / 15m trend as well as the candlestick volume and reaction off my levels (.90525 institutional ICT OB SMT SMC liquidity tap, no sellers below .9050)
#SPX500 S&P 500 Index 7/8 NYSE Intraday Plan structure
prices
time
risk reward
HTF analysis posted
let me know what yall think
(edit: one annoying scenario would be a clearing of the short term highs @ 3165 and rejection there just keep in mind if for some reason we trade those levels)
currently 8:08 EST ideally we breakdown 3150 asap and we sell off these next couple hours into the open
Head and shoulder trend reversal on EURGBPOn the weekly timeframe we can see many rejections and reversal candles on the 0.90000 thousand pip quarter point showing us possible reason for a reversal of the trend. On the daily chart you can see an ascending triangle forming for a breakout, and a shooting star candlestick right at the 0.9000 level to further confirm a bearish trend. Now down to the 4 hour chart you can see a possible formation of a head and shoulder pattern but still only in the right trough and needs to form the right shoulder. Retracement from the most recent swing high to the swing low shows a 50-61% zone right where the right shoulder should find resistance for a lower high. Taking a sell here is a little risky, but with the addition weekly and daily price action analysis we can learn towards a trend reversal. When it comes, watch for break of the neckline from the troughs of the two shoulders.