Ok I know theres a lot of retail traders out there waiting to get in on this pair for the next move down these are my views on it at the moment ive got a scenario for a long idea also but i see it going short too at least 0.7200 for now... Note: Blue areas of support/resistance are Monthly Purple areas of support/resistance are Weekly Monthly ...
OK so i got a little bit excited analysing this pair, ill give you a breakdown of the higher timeframes and leave it to you to find a safe entry on the lower timeframes! Monthly MA's crossed bearish Bearish engulfing candle (January) Broke major support at 137.000 & Retested Next monthly support at 115.00 Weekly Trendline broken Weekly engulfing...
A Break and retest of that huge monthly support should see a nice downside move eventually to the 1.0000 even handle. Lots of confluences here just off the daily TF...Double Top - CTL Break - MA's About to cross - 61.8 Fib
A break of the CTL + Hanging Man (4hr) range will give a nice short down to the bottom of the current range its trading within. Again not showing all my cards but this could very well play out quite nicely today if we get some GBP weakness
Letting the chart do the talking on this one, ill no longer be posting exact Targets and Stop placements due to some plagiarism issues.
So i know most traders have posted their analysis on this pair throughout the last week or two so i thought id throw up my own. I got in just under the 0.75 even handle after the break and retest of the double top neckline , I could of got a better entry if i entered on the break and retest of the CTL which also created the Double Top but to be honest i missed...
Bias is short on this pair still even after Friday's madness, still following trend perfectly creating Lower Highs & Lower Lows, MA's are still crossed bearish, lovely third touch off the upper TL, i managed to get a late entry Friday after the shooting star formed on the 1 hour chart. Stop above previous LH First target at that strong support area around...
Just an idea, im not in this trade myself just doing some analysis and will be interested to see how this one plays out. Price action is definitely suggesting we will see some downside momentum with a few bearish candlestick formations throughout the timeframes ill wait for confirmation of the move before entering incase it breaks the outside return to form a new...
Quite a few confluences here to suggest we will see a new lower low, lining up with the 38.2 fib off the daily and the 88.6 off the 4 hour from the latest outside return which has created a double top, Target is the 127.2 extension (of the swing from the yellow trend line). Risk:Reward isn't as good as id like, could lower it to the double tops and ill make a...
No thrills here, trade what you see! Bearish wedge/triangle forming, testing trend line for the 4th time, nice spinning top just waiting on confirmation for the entry :)
Loads of fibs all over the place on this chart, ABCD pattern has completed and this is a simple trend continuation trade ive entered already with the stop above the 78.6 fib retracement of the last leg although im not expecting it to make it there its currently at the 61.8 showing some price action for the short on the smaller timeframes. expecting it to complete...
I believe this is my first bullish trade i've posted on here which isn't really a shock as i would say a good 80% of the trades i take are shorts, anyway to the point.... Potential ABCD pattern in play on the daily chart with the 78.6% retracement could extend to the 1.618 extension as we have a bullish engulfing from Fridays close on our C leg as well has a...
So I've been studying harmonics recently and have been waiting for this Butterfly to play out on the 4 hour chart, finally reached the 1.272 extension late Friday so ill be waiting for price action to take the short down to the 61.8 retracement of the AD leg of the pattern to about the 9650 region. I'll be keeping a tight stop loss of about 50 pips away as when...
Descending triangle playing out nicely so far expecting a breakout to the downside, its came to test the 76.8 fib level im waiting on price action for a valid entry, theres weekly support at 0.76920 which will be my first target however i think it will quickly break that and go on to test 0.73902 region.
After falling off from the 76% fib i was looking for an entry for this pair as its been rejected from this area of support/resistance a few times now got some indecision at the moment but price action looks like a lovely shorting opportunity with a decent risk:reward target is down to the 50% fib extension at just under 1.79000, not sure how to put where my sl and...
Bearish on this pair, im going to take this short off the Tenkan line as its in confluence with the 50% Fib retracement, as well as a retest of previous support turned resistance and price action, i expect it to drop further than this but just looking for a few short intraday trades leading up to the holidays.