Confirmations: RSI overbought Strong structure Harmonic Move Fib Confluences Target: retest of the A leg (could be lower)
The Case for annual markup. im not an artist. thoughts :)
ANother high probability Trade setup on AUDJPY. BAsed on strong confluences as well as fundamental bias.
I am shorting GBPUSD in the 1.28-1.29 zone because of 4 technical reasons. 1. It broke out of the Brexit channel in October and now is close to testing the previous support of the channel (the red line and green arrows) 2. This zone is also an 618 retracement of the impulse move marked as "1 to 2" 3. The RSI/7 will most likely be overbought once it hits this...
looking to short GBPUSD 1.28550 with targets at 1.26700. reasoning is explained on chart
This pair was put on our watchlist over the weekend and an entry oppurtunity is available. Double top has been formed at the 1.618 fib extensiion of previous ABC boundary, completing the ABCD corrective structure. The double top is also trading around the key level of 0.7500 which is paired with the 38.2 retracement level of the larger ABC boundary
A confluence of indicators, shows me that we may be in for a reversal in trend, i have used fib levels as my targets. back down to monthly key level 0.95500.
Market reached all time highs this summer but with very low volume. In the higher time frame (Daily) we can see that the price is currently consolidating, it did breakout to the upside but couldn't hold its gains, and its now trading back in the range. It creates a lot of opportunities for harmonic pattern traders. Today there was a valid bat formation that I...
Price is around major support resistance and its near a major trend line. short as seen on the chart. Be aware of some GBP news tomorrow. Good trading all!
We are in this position because of the break above a previous structure and retracement back into a resistance come support zone. The pinbar candle signalled the entry, We have a 2360 fib level from a previous swing and we are trading in the short term trend direction. Probability suggests we will lose this trade but the risk reward makes it worthwhile.
Following the downtrend from june i see this 46 level as a critical support/resistance zone before we can see a trend reversal or a continuation to the downside. If we can break to the upside the most likely level that we're going to test its the 50 area. The bat pattern isn't violated yet, until we break our X point so i took that as a confirmation of a posible...
Multiple confluences such as; Higher low not being projected, Lower high being projected, the weekly timeframe bearish candle has engulfed the last bullish and almost the previous one before that, weekly price action has bounced and retested off the 618% FIB possibly stating that the previous uptrend has reached its exaustion point.
Last week we started including a new strategy trading on the breakout. We took a total of 4 breakout trades. 2 of them were winners, 1 loser, and the other 1 exited at breakeven. Overall the breakout strategy has been profitable for us last week. However, as this strategy is still in its early development stage, we are still seeing many room for improvement on...
Lots of confluences for this trade to get SHORT as u can see from the chart: Resistance Fib level High test candle Deceleration 50 ema bounce
if anyone is interested in my theory let make a chat i would love if someone see what i see , and i would love if someone help me with my strategy /
This is why i like this chart. Since the begining of the year the EUR has moved a LOT in some pairs, so far so good nothing last forever, and price need to breath. I'm looking to capitalize in the correction of this very bullish move. Following the trendline from December 10th we can see that the price did respected it very well, now we are in a place where we...
AUDUSD is nearing the PRZ of a bearish shark in a S/R zone that is confluent with the a bearish Wolfe Wave setup. 200 EMA and SMA may add resistance in this area. To add to bearish bias, this pair has been in a strong downtrend and this would give us an opportunity to ride it down to the .886 fib if price should reach the PRZ. Entry is placed at the shark...