Pattern within a pattern confirmation // EURGBP shortA reversal channel pattern is forming on the 1hr time frame, within a bearish flag that was formed in a HTF (4hr - Daily) of the EURGBP. If the price completes the reversal channel pattern, then there's a high probability of price dropping towards the weekly support area or reverse on the trendline that was formed by the falling wedge Pattern on the HTF (Daily).
Place a pending order on the 15m time frame near the top of the reversal channel that is potentially forming currently.
Falcontrading
USDZAR LOKKS LIKE THISUsd/zar looks very neutral on the trendline support, whereby we not very certain where the price will go. The pair formed a correction pattern flag indicating continuation. that is the probable the possible is the market might respect the channel and go long so we currently waiting for confirmation for both directions! Risk like a PRO
Update on EURUSDSorry guys for not undating you on the last analysis of this pair because there was a change of trend in my analysis. But dont forget to "like" and "follow" for more content, you can join me on telegram t.me/greatGod19FX
But note this it goes for few pips up to 70-90 then trend down.
Falcon Student - Short GBPJPYEntered this risk entry trade at 144.794 with a 35 pip stop above the structure.
Confluence Factors:
- Price is in a corrective phase from an impulse down.
- Price has touched the upper trendline for the 3rd time.
- Price has approached this 3rd touch with an ascending structure.
- Potential evening star has been formed on the 4HR Chart.
Target 1 is a the bottom of the structure with a RR of 10.65.
If price breakes this structure impulsively I will be looking for the larger double bottom at 124.637.