A downward trend channel is forming with price at former support zone which is a potential resistance zone and (50-61.8%) Fibonacci Retracement. A long term order can be placed as soon as there's confirmation.
Also watch out for stop hunts. I don't expect the reversal to be a smooth one
The market is trending gradually and price is near the trendline. Just waiting for a valid price action signal to form at this zone.
I don’t see any strong selling zone that would drive the market downward, however this last move might be the end of this bullish trend.
This is a medium possibility setup
This currently pair is going on a overall bearish move with some bullish retracement move on a weekly timeframe.
I believe the it’s gonna start another impulsive move depending on what price action signal is formed at the strong resistance zone till the weekly demand zone is reached
The market is ranging but we can still milk some profits not forgetting the impact of the NFP tomorrow, I’d say I expect a false breakout but price action signal is in line with the Bollinger Bands.
If trendline is valid, an impulsive move isn’t on the way. It’s in confluence with 50-61.8 Fibo. Rtc.
Waiting for a valid price action signal to form at trendline
2 TP’s
EURJPY is going overall bullish. It’s better to trade an impulsive move but this retracement move can fetch us some pips. This is in line with the 50-61.8 Fibo. Rtc.
Gold is forming a new short trend on the 4hrs chart. It might climb the middle zone or retrace and start a new trend on the trend line before going bearish back. My overall bias isn’t bearish but we can make some profits on this short bullish trend.
I used trend line as my dynamic resistance zone
This is in confluence with support zone which later become new resistance zone and 50-61.8% Fibo. retracement
3 factors in my favour, a high probability trade
Just waiting for a valid price action signal to form at the resistance zone and price to price away on from the choppy zone on a 4hrs chart.
Basic price action strategy
I used trend line as my dynamic resistance line
This is in confluence with support zone which now become new resistance zone and 50-61.8% Fibo. retracement.
3 factors in my favour, a high probability trade just waiting a valid price action signal to form at resistance zone and price should break away from the choppy area on a 4hrs chart
Price action strategy
I used trend line as my dynamic resistance zone
It’s in confluence with 50-61.8% Fibo. retracement and former support zone which will now become new resistance zone.
3 factors in my favour, just waiting for a price action signal at the resistance zone
