Market sentiment is net long and the recent shift in market structure seen on the 4H chart might be the confirmation that the pullback has ended.
RSI (14) and 10 EMA and 20 EMA are short biases. The recent break of the 0.8520 level is an indication that sellers are in control, the retest of that level is a nice opportunity to short the NC pair.
AN just broke the HH and it seems to come back for a retest of the 1.0730 - 1.0720 levels. This might create a potential long with a great RR of about 3:1 ratio
The price seems to be in a range. If it fails to break HH I'm shorting it back to the daily low, it might go there for more liquidity grab. But if it's breakout my setup is invalid and should be looking for longs.
The bearish engulfing candle is a great confirmation to go short, the 4H shooting is also formed at that level. It would be great for those who missed entering early to wait for the retest and then enter.
The price broke the recent lower low, this potentially tells us the price is most likely going to continue in its downtrend. It would be great to wait for the price to pullback to around 1.0545 and then go short
GBPUSD Closed the week in a Range. This week I'm looking for the break out at the 1.2220 level to long it back to the 1.2440 level, or the break down at the 1.2130 level to shorten it to the 1.1940 level. When you look at the GU 4H chart you can clearly see the Double Top Formation that caused the break of the structure, this might be a reversal. Also, the price...
The Market Structure Shift (MSS) just happened when daily broke the 0.8700 support level yesterday. This might be a great opportunity to short NC around the 0.8700 level. 20 EMA crosses below 10 EMA and RSI is not in the overbought area, also it's a 50% FIB Retracement.
Looking to go long at 1.2350/12270 level. 1.2350 level is a Resistance turned into a Support and perfectly aligns with the 50% Fib Retracement. The price might fall deeper to 1.2270 for more liquidity grab.
The wick rejection on the daily and the break of structure on the 4 and 1-hour chart gives us the confluence and confirmation for short. NC might keep on falling😍
RSI Shows on the price is in oversold territory and has started diverging. This is a great opportunity to go long If the 131.80 level will hold
The Change of Character is seen on the 4H and Hourly chart. The price holds tight at the 0.6830 Support and Resistance level and the 10 EMA Crosses Below 20 EMA. Also, the RSI crosses to the downside on the 4H and 1H
Price seems to hold at 0.6000 S&R level and we saw it at yesterday's long wick to the top. The Divergence is showing on RSI this signals a pullback
Price action is making higher highs while RSI (14) is making lower lows. This might signal a reverse soon