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Breakandretest

EUR/USD Technical BreakdownEURO / DOLLAR; Technical Breakdown (Long) So, as you can see we've had a depletion at 0.98800 where price failed to break the lows and printed a clear inverted head & shoulders After the third bounce of the trendline, I was expecting price to break through, indicating price is reversing We have clear / well respected support / resistance zones marked out, indicating where price is likely to go after breaking bearish market structure Now, for me personally, I'd like to see price come back to the golden zone between the 61.8 & 78.6 fib levels to give the best / highest probability set up whilst maximising our reward to risk You may have noticed these fib levels also line up with the trendline, a strong area of support (0.99250) as well as the neck line of the inverted head & shoulders However, This set-up isn't guaranteed, but, if price does come back to this zone, I will be looking to take buys as soon as we have 3 rejection candles on the 5m or 15m timeframe We may even have a rejection of the 0.99750 level which price has previously respected as support, but again, in my eyes, the best set up which we as traders should all wait for is the highest probability set ups which to me is the deeper pullback to that 0.99250 level. Hope you enjoyed that technical breakdown on EU. Let me know what you guys think about this pair.
Long
by TomBray1
GBP/JPY - Long - Technical Analysis This is my technical breakdown on GJ. GJ is in a bearish condition on the higher time frames, however, we've just had a strong breakout of a descending wedge (bullish pattern), caused by the UK electing their new Prime Minister. Now we've had this break out, I'd be looking to go long on GJ on the retest which could happen at either 163.500 or 162.500, where price previously respected these levels as resistance. 162.500 offers the most confluences, but with this bullish strength, we could see GJ respect 163.500 - I'd be looking on the H1 timeframe for a rejection / indication that GJ wants to go long. The UK electing a new PM, could be the catalyst to drive GJ higher breaking this years highs, however, I'd be looking to target 166. and 168. If we get a break of 168, we could see price hit 170 or even 175. a very bold psychological level
Long
by TomBray1
Looking To Sell The Dollar Against The Euro (EUR/USD)Hi Traders, I trust this week has been amazing thus far, Looking at EUR/USD, Price action has not allowed us to get involved in a short position yesterday, Today the tables have turned and I do believe that the Bulls have come to play on this one. Price has fallen significantly since our post, But throughout the London and Asian sessions, there has not been much action on the instrument. My attention now follows the bulls as price action gives us some reversal signals. Looking at the current One hour Time frame, We see that price at the current moment is trying to create a Double Bottom pattern. Price has also reversed from a support level testing the area twice, Once in Asia and again Pre New York London. Now we are facing the opening of the New your session, as well as the NYSE open, and bulls seem to have the upper hand. I will take this setup once we have a break and close above 1.0200, I would like to see a retest into the 1.01900 area before Launching those Long orders. If the bears remain persistent and the price falls back below 1.0750 I will no longer be interested in this position. Target is simple as I am gunning for the Previous high. Let's see what the New York Session has in store for us. Renaldo Philander
Long
by Tradebudz
A case for the BTC Bulls (Descending Wedge Breakout & Re-test)As this is a Point&Figure chart, I'll have to provide updates manually as TradingView currently doesn't support the 'play' feature for them. Noticed something interesting supporting the Bullish case for the previous Fractal/Bear Trap idea: Breakout and retest of the macro descending resistance intersection with the dynamic support range 🙏🔮🚀 Possibly the most bullish sign seen in recent months 🙌 Stay tuned for more! I'll keep a close eye on this one & update as things play out! What do you guys think? Feel free to share and ask questions 👍 *Will update as more PA is available* *Symbol tags below, Ignore these* INDEX:BTCUSD BITSTAMP:BTCUSD COINBASE:BTCUSD BITFINEX:BTCUSD BINANCE:BTCUSD BINANCEUS:BTCUSD FTX:BTCUSD GEMINI:BTCUSD BINANCE:BTCUSDT KUCOIN:BTCUSDT HUOBI:BTCUSDT OKEX:BTCUSDT BITTREX:BTCUSDT POLONIEX:BTCUSDT COINBASE:BTCUSDT BINANCEUS:BTCUSDT FTX:BTCUSDT BITSTAMP:BTCUSDT BINANCE:BTCUSDTPERP BYBIT:BTCUSDT BINANCE:BTCUSDT_PREMIUM SP:SPX TVC:SPX OANDA:SPX500USD DJ:W1DOW NASDAQ:NQGI NASDAQ:NQGM CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 CRYPTOCAP:TOTAL3 INDEX:SATSUSD BNC:BLX *Symbol tags above, Ignore these*
INDEX:BTCUSD
by RandomOracle
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