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Forexforensics

GBPUSD Head and ShouldersWith the continuation of the downtrend and scare within the U.S market. I speculate from a fundamental perspective that the downtrend will continue. As for technical, after measuring the swing high & swing low not only does the 61.8 area align with confluence to previously respected price levels. My exit price levels, 127 and 618 align with the weekly low & monthly low. Now I am awaing for the retest in this area, respecting the volume push towards the downside.
Short
by Jmaxfx
US30 Inverted Head&ShouldersReally simple set up, training your eye to spot these patterns in my opinion is essential for developing consistency with your trades. After seeing the reversal, which using the 1H and especially 4H makes these easier to spot. You can see where the left shoulder has formed, aligning with the right shoulder on the 61.8 level. Other than that, we notice the area was not only previous support, but resistance. This liquidity indicates an interest for movement around this level. The rest is all price action and patience.
TVC:US30Education
by Jmaxfx
EURUSD ShortBased off of the recent push towards the downside, we saw a break through the monthly high towards the downside. Now looking for potential areas to short. We see a 61.8 retracement in confluence with recent support and a good area for liquidity. Awaiting price action to confirm this analysis, we can also look for a potential trend line continuation supporting this analysis. The 50 EMA also acting as a magnet for price, we can see this potentially help confirm this analysis. Personally, I like using the 15min chart for entries. Helps identify price action easier, my exit points if it retraces to the 61.8 or 50 will be the -27 & -61.8 as TP 1 & 2. However I will be watching to see how she reacts to the 0 level, in case we see a double bottom reversal.
Short
by Jmaxfx