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Retest-structure

POSSIBLE LONG OPPORTUNITY Hello traders! Just an update on this pair. We shorted the market from the previous idea and all targets were satisfied. We now see a re-entry to this downward channel and we know that this pair has been in a strong trend upward. This is why we believe we can see a rally to previous structure as the retest already happened. But can we get a chance for another long position entry? If we get a retest at 73.350 we could see a bullish reaction to 74.000-74.500. Monitor for trading opportunities. This is an idea not a signal, shared for educational purposes. Trade smart don’t gamble. -Rum
Long
by PipTips
USDCHF Looking for a PullbackAfter the long consolidation period within the symmetrical triangle, USDCHF finally decided to break below and we will be looking to retest the ascending trendline. Looking for a pullback on the 0.618 Fib level in correspondence to the previous support now acting as resistance. The three TA elements outlined together create this zone of confluence in which we could consider opening a short swing trading position. This is NOT a financial advice, trade at your own risk!
Short
by Proszi
1
Trading within Channel | Long & Short SetupsGold currently finds itself trending within a respectable descending parallel channel. We could experience a price bounce from the approachable support area outlined in green - forming another LL on the lower descending trendline. This could potentially result in a long opportunity, which could go up until the previous resistance line in correspondence to the higher descending trendline of the channel. If this happens to be the case, the 0.618 Fib retracement area (outlining perfectly in confluence with the resistance and the higher trendline roof) could result in presenting itself with a short opportunity - ultimately allowing the descending channel to continue in its trend downwards until a breakout! This is NOT a financial advice, trade at your own risk!
OANDA:XAUUSDShort
by Proszi
GBPUSD short, retest of keylevel resistance. 1.618 fib extenstioGBPUSD has formed a double top for the last few weeks, which is a bearish sign. A weakness of the Bullish trend. It broke the 1.2200 Support Area and bounced off around the 1.2100 area. Currently, the cable/GU will retest the 1.2200 as a resistance, and might break it as well as the bearish trendline. If it breaks both the trendline and the resistance, Idea is scrapped. And out of the trade. For now I'm gonna look for short in GU and wait for more candle confirmation and rejection at the resistance, such as a bearish engulfing candle. And a probable Take profit area is around 1.1900 which also is the 1.618 fibonacci extension.
Short
by Jimbololoy