Active trade! We see oversold conditions on multiple timeframes, saw a huge bearish push down as well. Looks like bears are getting exhausted and it's time for us bullies to step in. We are also well below the alligator indicator if you use this indi. We are also monitoring a possible "W" formation that is looking promising. GBPAUD is bottoming out and now is the...
ACTIVE TRADE: Entered at 1730.25 - take profit is at 1732 levels.
trading a “W” pattern ... waiting for price to shoot back up for an entry. Also showing oversold on RSI , Stochastic , and CCI
Head and shoulders formed on 2H. Retest neckline for a drop
NET PROFIT $200 ---- You can ride this down to complete the M. I wasn't feeling greedy today. Hop back out when you see price approaching support, you'll see the bears step back in. HAPPY TRADING GLORY FAM!
Back at a key resistance level on 30min. Waiting for the drop back down to support. Also completing one of our famous "M" patterns.
Price at resistance level 1.0983. Expecting a drop back down to support levels of 1.08490.
Watching the subtle market movements. Price could retrace to the top of these wicks before finding its way back down to the trendline / support level of 0.64220. Will wait for a confirmation / retest candle after the move up. .
Trading an M today. Let's see if this pattern plays out to completion.
if you're trading large lot sizes.....take your profits.
Another example of how to trade the "W". The market is going to make these all day. We just have to catch that first leg down.
Possible W forming. Price oversold on 15min timeframe. Currently waiting for push back up.
Watching to see if price completes double top Pattern or "M" . Price could be trying to make it's way back down to support.
Price well on its way to target. Closed trade to lock in profit and prevent anymore draw down/loss of profit. Looking for the next W or M move!
Trading the W to completion. Expecting a large push to the upside (resistance area).