nomana1234

nomana1234

Wednesday had closed within Tuesday. It is not a matter of 1 or few ticks, but rather for a good breakout to be considered and accepted, Wednesday should have closed above Tuesday decisively. Hence Wednesday was not a BO but only expanded the range. And as such Thursday is seeing a fall.

nomana1234

I kept thinking weekly high and weekly resistance. But today's daily candle shows a very strong ascending channel/triangle. If the price had been going up, this usually means continuation. It looks very strong on the daily.

nomana1234

We are at the day's high. The market structure started to break down. Maybe an extended M pattern? Maybe it will go a bit higher than previous peaks?

nomana1234

If the month closes out of the levels. And the following does not come back and close within the levels - I would think it's going to take off like USDJPY. Plus, cup & handle. Then a W is becoming visible on the Monthly!.

nomana1234 Updated 

So, 1. EURGBP is at its weekly highest. 2. Good period of consolidation can be seen on hourly. 3. Market structure is breaking. 4. Rectangle/H&S/Neckline has been formed and is breaking decisively. Target should be low of the week/month.

nomana1234

It seems to be approaching a Weekly high. Its in down trend. Look for consolidation on hourly and then a break of structure - lower low. Best to be observing on 15min/hourly. Then look out for reversal pattern formation. Look out for pins and engulfing around 8 pm or 7 am. Don't enter on first engulfment. A stop order can be set on the high aiming for one bar stop.

nomana1234

I kept entering. But, I really should've waited for the M. In again four the 3rd time at 1.29963

nomana1234

All the way down to monthly lows? I'm in at 1.29886. There was a good wick on One Minute!. Its at its highest for the monthly.

nomana1234

I don't think there is a good sell here. I think there is strong support below. The consolidation period on the daily feels too light for it to break down below. I'd like to see an hourly candle close above or below the levels. Being baised is VERY bad. So, if I feel like buying - then it is probably a good sell. Right now, its consolidating. It does not look like...

nomana1234

Seems like good levels have been formed - clear levels on 15 min candle. If the neckline is breached - I think it can be a good buy.

nomana1234

H&S pattern has been formed on Hourly candle. Neckline is just about broken.

nomana1234

On 15 mins candle, there is a decisive break of the neckline. Currently, entries are valid. SL can be the current high of the day.

nomana1234

If and when the hourly candle closes below the hourly levels formed, it will be a good signal for sell. Price has been consolidating for the past few hours. Possible when the hourly candle closes below 1.28250, that will signal a sell. Stop loss could be the prior Hourly candle.