Trading range and inverted H&S analysis for EURUSD
Got the original idea from tntsunrise and animangal. I have added logical place for TP at certain fib and EMA levels
Clear on the chart. We are now at the possible bottom of a bullish flag that will break out during FOMC,
Price broke downtrend, but still trapped in a trading range (top red and bottom green). Right now is a good entry for long if you wish to enter before news this week. Target is red box, if break then may buy again. (:
Break of yellow zone would mean more upside. Rejection means a move towards green zone. Scalp this.
Previous trade hit stoploss. Now is a good time to buy again as overall trend is still bullish.
Waiting game. We have bullish divergence as we are currently sitting on an important support. Overall trend is still a short.
Buy the 61.8% retracement. We could get bounce on 50% too as there are structures at this level.
Zones are for selling or TP for those who have bought at 130.
A break of green trend line would be a good place to buy. Rejection means a trip to bottom of this triangle TR. This Friday is Yellen's speech. Gold might be in TR until then. Good time to scalp.
Watch out red zone on USDCAD, if broken, sell the pullback for long term. USOIL just hit a possible support.
Price has downside break out of pendant. With current rate cut and QE program launched, we might see more downside for GBPUSD. I am planning to short it after a break of these red zone and short the pullbacks
My last trade from bullish flag strategy was stopped out. This is where I am looking to enter. It's a pullback trade long entry from previous upside breakout of downtrend.
EURUSD is consolidating under 1.1111. I think it's a good idea to open short when price touch red zone again to target the low at 1.096
xauusd is at the bottom of a bull channel, we might find support here. If you are conservative, you might want to buy now and put sl just below 1330. A downside break of 1330 level will target 1310 area. I will buy again here.
With oil potentially bottoming out. I think it's a good idea to sell USDCAD. High risk:reward ratio
Opportunity to sell for more downside in red zone. This is the pullback zone from previous breakout of wedge. Would be nice to see reversal PA around 61.8%.