Price finishing its journey to the next support level soon.
As long as price is in the descending channel, I'll be looking for short opportunities
The trend is still downwards. We are in a correction phase so this is a risky trade,. Another entry can be had after a pullback.
My bias for today is short. It's possible that price may go back and retest the 1.17000 area. Possibly even far as 1.17300. I'll be waiting for a break of my blue CTL before any short trades.
I have a bullish bias for this pair today. H1 structure and 50ema acting as support. If we can break our red CTL , expect to see 1.1820. if not, expect a potential retest of trendline below
I have a long bias because we have a head and shoulders formation with H1/H4 being in an uptrend. As well as a 78.6%/88.6% rejection. But keep in mind we could also head south. Follow the price.
CLASSIC DOUBLE BOTTOM REVERSAL PATTERN, I'LL BE PATIENTLY WAITING FOR A NECKLINE BREAK
PRICE HAS BROKEN STRUCTURE ON THE 1HR. THIS IS A COUNTER TRADE AGAINST THE OVERALL TREND. LOOKING TO TAKE IT BACK DOWN TO 4HR STRUCTURE.
POTENTIAL SHORT TERM SETUP IM LOOKING AT FOR A SUNDAY OPENING/ MONDAY TRADE
WE BROKE STRUCTURE ON THE DAILY, IF WE CAN HOLD BELOW THIS LEVEL, I WILL LOOK FOR A CONTINUATION SETUP TO 128.00.