TheBearTrader1

TheBearTrader1

Price has broken out of this falling wedge formation on the daily timeframe (bullish pattern) now on the 4H we can see a retracement into a very interesting area, (50EMA, 38.2 fib level and structure zone) if we can get this nice bullish candlestick i will go long.

TheBearTrader1

We are in a prime area for longs here, we can see that price broke out of this descending trendline, to the upside, creating a higher high, we have now retraced to the 50Fib level, the 50EMA and testing the trendline as support, these are big levels to break, therefore if we get a nice 4Hour close I will definitely buy this pair.

TheBearTrader1

Here we have GBPJPY on the daily timeframe, a nice breakout of this longer term ascending trendline, creating a lower low, we also have a little correction happening where price is now interacting with the 50 fib level, If we can get a breakout of this short term ascending trendline I would look to short this pair.

TheBearTrader1

As we can see on the 4 hour chart, price has broken out of this ascending trendline to the upside and created a higher high, I am now waiting for a retracement into an area of interest (50 fib) as it lines up with the 50EMA and previous structure, before looking to go long.

TheBearTrader1

Price has now broken out of this structure level, although it dropped back below it after a break previously, we have seen a higher low and another break this quickly signals lots of bullish pressure. Buy limit set at the highlighted area, as it is at the 38.2 fib level, 50 EMA interaction and previous resistance level.

TheBearTrader1

As we can see price has broken out of this range, now forming a lower low, I would like to enter at my highlighted area if price can retrace up to there, as this was once support and it looks like we will be interacting with the 50EMA and a fib level up there.

TheBearTrader1

Price has broken out below this ascending trendline, creating a new lower low and we are what looks like confirming a lower high is we can get this wick close today, we also have a retracement to the 61.8 fib level making this a nice area o short this pair and multiple wick rejections.

TheBearTrader1

Price has now broken out of this range it was in, creating a lower low, I have put a sell limit at 0.87398, as this was previous support, and lines up with the 38.2 fib level.

TheBearTrader1

Price has broken out of previous resistance zone, creating a higher high, a buy limit is set at this confluence area of a fib level, and structure zone, nice and easy intra day trade if it comes down to this level.

TheBearTrader1

I will be shorting this pair if price can stay below this level it is currently at as there is some nie confluences here. 50 EMA acting as resistance and 50 fib level. Breakout of ascending Trendline and lower low suggests further move to downside.

TheBearTrader1

As we can see on the hourly chart this could be the start of a stronger dollar, with a breakout of this descending trendline, and with price confirming a higher high, we will have to wait to see where the next low is established, as there is still a lot of bearish momentum in this market.

TheBearTrader1

On the 1 hour chart price has broken out of this previous resistance zone, confirming a new higher high, going to place a buy limit at 1.64231. As we are stacked with confluences n this area (structure level, be third touch of TL, 50EMA and 50Fib would also be acting as support)

TheBearTrader1

We can see price is now changing trends as we have confirmed a lower low and we look to be confirming a lower high here in this confluence zone (50% fib level, and structure level) after we have fallen out of this ascending trendline.

TheBearTrader1

We can see price is in this falling wedge formation (bullish pattern) where we are now pressuring the resistance zone, this signals strength as we have not come down to test for support, however I am looking for a breakout before entering.

TheBearTrader1

As we can see on this hurly chart price fell out of this rising wedge (bearish formation) and has now printed new lower lows, waiting to see how price responds to this highlighted level as there is a few confluences here (50EMA, 38.2 Fib level and previous low)

TheBearTrader1

Price is now stalling at the level I mentioned last week, we can see this support level rejecting two candlesticks here, longs look good.

TheBearTrader1

Price fell out of this ascending TL, made a new lower low confirming downtrend, has now retraced into an area of interest, and looks like a lower high has been confirmed. Nice wick rejections here to confirm entry.

TheBearTrader1

We can see price wicked up beautifully to this structure level which held as the neckline for the highlighted head and shoulders pattern previously, this is where I had my sell signal as it also aligned with the 71.8 fib level.