TraderMozo

TraderMozo Updated 

Observing the 4H, Daily and Weekly chart, price action shows bearish momentum, retracing past the 0.382 fib. level as well. As seen from Daily and Weekly candles, price seems to reject and unable to breakthrough the CZ at this moment. The next target I am expecting is the 0.50 fib. retracement level which coincides with support and resistance candles if you look...

TraderMozo Updated 

Price pattern looks to have formed a Head and Shoulders pattern, and price looks firm to start breaking down. On the 4H, Daily and Weekly charting, price action is signalling a bearish stance, especially with weekly charting showing weakness in any upward momentum. This may be a long swing trade which is also very dependent on any updates about the ongoing trade...

TraderMozo

Price action is currently moving in a symmetrical triangle, and a breakout trade could be in play. An upward breakout could see price retesting 114.570. If it continues its momentum it could hit 116 and an extended target at 118 (both indicated by arrows). A downward breakout could see price retest a support level at 111.600 range. Disclaimer: Content...

TraderMozo Updated 

As shown on the chart, there are 2 possible setups for GBPJPY in the coming week or two. It is important to plot your S&R lines as well as determining the CZ (Critical Zones). On the chart, there are 3 CZs to look out for in the current price range. Firstly, on the 4H charting, price is in a downward trend channel. A break above it and retest of the channel would...

TraderMozo Updated 

Looking for further downside of rGBPJPY as the gartley pattern has completed which showed a pretty good downside as price had also retested a trendline which it previously down from. The TPs are listed on the chart itself, TP 1 being 145.45 and TP 2 being 144.480 Important price range to observe price action would be 145.08 to 145.48 Fundamental news regarding...

TraderMozo Updated 

From the daily, 4H and 1H charts we can evidently see that price has broken downside from the trendline, and is likely to continue is downward momentum to touch the longer-term trendline. However, take note that there could be a possible bounce/retracement. First possible retracement to 149.43 (daily 50% fib.) and further up to 149.85 (1H S/R level) before...

TraderMozo Updated 

It is important to look out for the next few hourly candle closes. Should next candle be bullish, we may see a short-term upside movement and potentially form and complete a H&S pattern. If price continues its downward decline, look out for the 4 Hourly 50% and 61.8% fib. retracement levels as stated in the chart. Disclaimer: Content discussed is for...

TraderMozo Updated 

We can observe a descending wedge from the 4H chart and scaling down to the 1H chart, we can see a breakout of the wedge pattern. It is important to observe the price action as prices could rebound after a retest of the trendline Upside targets: TP 1 - 0.78470 TP 2 - 0.79070 SL: 0.76875 An entry from the retest (if any) and reaching TP 2 would give a nice...

TraderMozo Updated 

As seen from the 4H chart, price has been ranging in a rising wedge pattern and did not manage to break downside despite showing weakness. Price has now broken upside from the pattern and we can observe that an inverse H&S pattern has formed. Looking at further upside towards 151.8 and possibly to 152.730 range. TP 1 has been set as there is a confluence of...

TraderMozo Updated 

Based on the daily chart, price is currently at the 50% fib. retracement level and could continue its upwards movement towards the 61.8 retracement level at 152. Looking at the 4H chart, price is still ranging in a rising wedge pattern and shown weakness and failing to break the rising wedge pattern towards the upside. Scaling down to the 1H chart, we can...