HL in market LL in indicator
Pressure to the upside has stopped in consolidation for a few days, but as I join trend lines to form a triangle, price steadily decreases validating a stronger bearish push.
EURCHF tests 4H resistance zone, momentum to the upside is also decreasing as wicks are long.
I believe EURJPY will test resistance and continue bearish- this could be a potential pull back in continuation of the downward movement.
Gold could perhaps drop as it's made a LH on the RSI
XPT seems to continue to form LH's & LL's which would suggest that it would continue to drop to around 780.990. Let me know what you all think?
Catch the retracement for a short scalp?
Waves restricted in a parallel channel; numerous tests of both sup & res on 4H
I predict price will reach the rectangular zone that previously had been tested as previous resistance, it's also in line with my parallel channel giving more validation that the market will push down after reaching that area.
Major support rectangular zone followed by a support line on the daily shows multiple tests; going bullish?
Bullish Pennant formed, increase for 20-25 pips.
Running waves on gbpchf, if price tests 38.2-50%, looking strong bullish run. Wait until pullback is available. Even in a consolidation, there's always a trend and within a trend, there's a trend. Lower timeframe bangs entries. TP: 1.27882
Numerous tests of diagonal resistance, look for pullback on 15 minute chart for a cheeky 30-40 pips.
sell pressure to the downside has decreased, wait until double top at support of 121.765 has presented itself, buy on candle close on support.
In my analysis, I drew major sup/res on the daily chart, followed by a rectangular zone where price could potentially exhaust itself before continuing its upward momentum. Trend lines were placed accordingly on the 1H chart; there were numerous tests, this is also to restrict my vision so that I know price is losing momentum to the downside & I am paying all my...