Confluences - Rising Wedge on the daily timeframe - Rejection off psychological level 1.82 - Slow down in momentum shown by doji candles on the daily timeframe followed by bearish daily engulfing - Shift in market structure with lower lows and lower highs forming
Confluences - Last 2 weekly candles have closed with big wick rejections to the downside showing that higher timeframe buyers are still dominating the market - we have seen a shift in market structure shown on the daily timeframe by yesterdays candle closing as a bullish engulfing, sellers were unable to continue with its bearish momentum - 4hour we have seen an...
EURNZD has finally had that break in market structure giving us our buy bias What we will be looking for it a pullback to retest previous resistance as support
Price is now beginning to form the right shoulder of the head and shoulders pattern as predicted This could be price pushing up on the daily candle to leave a wick to the upside to then turn bearish Yesterdays candle closed as a nice bearish pin bar
- Triple bottom - Impulse to the upside breaking market structure and buyers taking control - Daily morning star off support - Weekly wick rejection
Price is forming a corrective structure back up to retest some higher levels of the impulsive move. Will be looking for a possible 78.6% retracement
Price is very bullish on the higher timeframes however can see the momentum slowing down on the higher timeframes for a potential pullback Waiting for a shift in market structure to then look for a sell position
Confluences - False breakout above resistance at 85.00 - Already forming bearish market structure with a lower low and lower high - Big wick rejections to the upside on the weekly timeframe which shows sell pressure - Strong break below support creating a new lower low in the market
Confluences - Rising wedge breakout - Break of bullish market structure - Third touch of a trendline on the weekly timeframe - Daily timeframe we are level with where a lot of wick rejections took place
Confluences - Strong bearish weekly engulfing candle breaking below psychological level of 1.2 - Bearish daily market structure forming lower lows and lower highs - Bullish counter trend broken - Daily bearish engulfing and a strong 4hour close below support
Continuing with the trend price is making bearish impulses followed by bullish corrections. Looking for a push up to the 38.2% fib to take sell positions
Confluences - False breakout at 1.78 followed by a continuation of bearish market structure - Head and shoulders pattern at the top as the trend reversed - Market is forming bearish impulses followed by bullish corrections so we know sellers are dominating - Strong weekly and daily bearish engulfing candle breaking through 1.75 psychological level
Confluences - Price has finally broken out of its ranging market structure - Higher timeframes buyers are clearly in control so we are continuing with higher timeframe trend - Price is looking like we a filling a weekly wick - Broken through a resistance level with strong momentum so we can say this is a breakout
Price is still in bearish market structure so once we get confirmation by an impulse to the upside creating a new higher high within the market we can then look for our buying positions Will then allow price to retest structure forming a higher low
Confluences - Strong weekly and daily bearish candle close - Failed inverse head and shoulders pattern where we actually manipulated to the upside tricking buyers into the market - We are also in bearish market structure forming lower lows and lower highs
- With evidence that the current bearish momentum is running out we may be able to buy back up to previous support which we have broken out of. Will be looking for a shift in structure on the lower timeframes such as the 15min
This pair looks like it is going to continue with its trend and is showing no signs of a bearish reversal as of yet Looking for a retest of the neckline to take long positions on this pair
Confluences -EURJPY is heavily uptrending and although we left a wick to the upside, the weekly candle was still an engulfing and we believe this wick is going to get filled - On the daily timeframe we have broken through resistance and used it as support by impulsing with a bullish engulfing candle - We have broken the counter trend which looks in the form of a...