Current flow: North Structure: consolidating on pullback and now breaking out with testing and effort. Acceptable RRR —>Long
Trend: Uptrend Structure: accumulating through flag and widening wedge with same target projection Finishing up the wedge --> Long Target = wedge's height ~18.9 -19 RR>2 Goodluck!
Resistance made it self breakable many times, but refused to do so. This time Bull rejection (Pinbar) at resistance in downtrend, trapped buyers. Potential failed reversed-HnS --> Bearish RR~1,75 Goodluck!
Wait for a good signal for an entry The pinbar reacted to upper supply zone is an early sell signal My perspective: Sideway to downtrend. Expect: a double top or somthing like that Goodluck!
Trend: Overal downtrend, Long term sideway zone with a double bottom, Short-Mid term clear uptrend! Structure to keep in mind: 1.31 is a crucial point: - Get pass it, 1.35 is yours - Lost to it, 1.26 you go At 1,31: On bear side: is supply zone, resistance zone, Pivot point, a pullback point(if you don’t get the wedge pattern) On Bullside: Many touches...
Trend: upward Structure: - broke out falling wedge - pulled back with pinbar - target by Fib extension 1st target: RR>=2
Short-term View with downward trending pair: GPBUSD
1/ Double bottom 2/ Wyckoff's mark up(?) 3/ Pinbar and potential bullish fakey on Daily 4. Still in a horizontal trading range
Potential range for H4 to D1 entry Accumulation phase expected.
Current: South Pattern: Bearish Fakey at Resistance Sell stop as when pattern activated Stoploss and Target on Chart RR~2.2
put a Sellstop, target can be further, SL on chart
Last week fundamental drove the GBP out of technical's capability. Time for a new overview on this pair. 1. Monthly Price did not be able to break the monthly resistance, or we can say retest the monthly resistance, Till now GU appears to be still in downtrend. 2. Weekly Still in longterm downtrend, uptrend started since August. Will this trend strong...
After many ideas support the Long side, there are signs that it has been weakened recently, we have to adapt to the market cuz it always change. Here's the idea why i changed my mind to Short side. Price upward movement was strong couple weeks agon when it was at the lower band of the trendline, but it is weak now: - Volume does not support uptrend anymore. -...
EWP on this one: price at the end of wave 1, price created a bullish engulfment at support.
Current situation on my view: Short term bearish trend ended, bullish trend may continue. Here's the plan: buy now with a bullish signal (bullish engulfment) of wait for breakout upper resistant zone, consider short when break trendlines or the redzone.