FosuaForson

FosuaForson

In this example it shows that the 61.8 retracement did not hold. Its clear to see that the power of the triple bottom zone was more powerful than the retracement alone, which caused price to pause there with some indecision but up mostly rise above. In addition price also made a bearish engulfing ton the weekly

FosuaForson

In this example it shows that the 61.8 retracement did not hold. Its clear to see that the power of the triple bottom zone was more powerful than the retracement alone, which caused price to pause there with some indecision but up mostly rise above. In addition price also made a bearish engulfing ton the weekly

FosuaForson

Following recent downtrend movement, price has now come to 61.8 retracement. Also whilst forming a daily doji candlestick at that point. Price also made a daily doji and triple bottom at a level of previous support, so price is also justified to break to the upside or even a further retracement. But my guess leads to further downside potential

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Pure price action

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the falling wedge serves as a reversal signal. After a downtrend, Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows Upon breaking above the top of the wedge, the pair made a nice move upwards that’s approximately equal to the height of the formation.

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possibility to reach previous structure zone and continue on in upwards momentum

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Analysis of why trade occurred in a sell

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price in optimal zone for a sell

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explanation of previous movements and how to spot the next one

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Inverse head and shoulders pattern on weekly timeframe suggest that a strong break of resistance to the upside may occur. Daily candlestick also pushing in bulls favour. Have to wait and see

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4H buy opportunity double bottom on daily hammer candlestick on 4H Due to Brexit news price may range within area

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Sell Trade factors - Key Daily Resistance level - RSI Divergence - Bollinger Band hit - Stochastic reversal - 4H Inside bar confirmation

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key level of structure to look for for potenital profits

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double top at 61.8 fib retracemnet key structure level down push

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PRICE TO REACH HERE BEFORE SELL CONTINUATION 61.8 retracement for hourly

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50% fib retracement Key structure level of previous support and resistance price finding it difficult to push through resistance

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sell opportunity 61.8% Daily retracement level looking for continuous push down

FosuaForson Updated 

bouncing off key structural support first target of1.5673 price potentially might breakthrough