Confluences - Higher timeframe on the weekly and daily timeframe price is in bullish market structure - Price has recently on the lower timeframes been downtrending, however we have recently formed a double bottom where sellers were unable to drive price lower
USDCHF is currently at a strong support in the market. Potential for upside movement from this moment on Price is also forming a falling wedge which is a bullish reversal pattern
Confluences - Bullish reversal pattern as we are seeing an inverse head and shoulders pattern - New higher highs and higher lows created
On market open price has pushed up the the resistance of the descending channel and also a strong level of resistance in the market. looking for a sell position during the NY session if we get a structure shift on the lower timeframes beforehand.
Waiting for price to break bearish market structure. We are showing early signs of bullish movement by impulse away from support.
Confluences - Higher timeframe bullish market structure - Price trading within bullish ascending channel - If we zoom out it looks as if price is making its way to 88.0 psychological level
Price seems to have broken out of its bearish correction, Looking for a continuation to the upside
- Higher timeframe bullish market structure - Falling wedge approaching support in the market which shows that selling momentum is slowing down and traders are taking their profits as they approach this support
We have broken out of the descending channel with a bullish impulsive move and are currently retracing back in a bearish correction for a potential move to the upside We are showing big downside rejections at the retest of the descending channel
AUDCAD has moved as expected and has now retested previous resistance (being the neckline of the head and shoulders) and used it as support We didnt look to buy right off the retest of support as price was moving very bearish however now we have formed a smaller inverse head and shoulders The right shoulder is also a bearish correction which came off the back...
AUDCAD has moved as expected and has now retested previous resistance (being the neckline of the head and shoulders) and used it as support We didnt look to buy right off the retest of support as price was moving very bearish however now we have formed a smaller inverse head and shoulders The right shoulder is also a bearish correction which came off the back...
Confluences - Break of bearish market structure with strong impulse to the upside - Higher timeframe bullish market structure - Weekly bearish candles failing to engulf eachother which shows weak selling momentum
Looks like buyers have stepped into this market with a strong push to the upside We are currently correcting to the downside which shows buyers are taking a rest Higher timeframe bullish market so will be going with the overall trend of the market
Continuation of bearish market structure Bearish impulses followed by bullish correction 61.8% fib rejection
Confluences - Higher timeframe bullish market structure looking like price is heading towards 89.0 psychological level - Third touch of support at ascending channel - Triple bottom - Correction at support followed by bullish impulse away - Inverse head and shoulders
Higher timeframe bullish market structure Ascending channel Bearish correction approaching support and third touch of trend line 78.6 Fib rejection
Confluences - Higher timeframe strong uptrending market - Correction retesting previous resistance as support as well as the 78.6% fib rejection - Weekly wick rejection candle to the downside - Impulse to the upside breaking market structure creating a new higher high in the market
Confluences - Higher timeframe bullish market structure - Strong daily bullish engulfing candle, todays candle currently pulling back to leave a wick - Bullish impulses followed by bearish corrections with price forming higher highs and higher lows - Break of descending channel