GO
GBPCHF: Retracement Trade on Head and Shoulders!Hey gang! The GBPCHF Head and Shoulders pattern I posted 2-3 weeks ago have broken through!
Wait for a retracement back to the 38.2 level at around 1.42000 before trading.
What I used to determine my action:
-38.2 Fib Level
-Major Resistance Level
-Whole number resistance (1.42000)
-Head and Shoulders Pattern
-Recently reversed uptrend
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AUDUSD LONGSA weekly close above key monthly resistance last Friday above 0.7550 gives us projections of upside potential to weekly resistance at 0.7780. Statement is supported by Fibo extension level 161.8%, a weekly break and close of monthly resistance @ 0.7550 , bullish engulfing candle pattern. We are waiting for further price action.... a retest/consildation around 0.7550 , and longs will be in play :)
AUDUSD DAILY COULD GO EITHER WAY KEEP AN EYE ON ITHowdy,
This could go either way so worth keeping an eye on this pair as today's candle has not finished yet
We have as you can see resistance but that could break through and retest as new support to go higher or create a new lower low.
As always any feedback welcome good or bad.....still learning before I go LIVE
EUR/USD CrabCrab with 2.24AB=CD (the 1.618 is way far behind to be at any importance) , 3.14BC projection and 1.618XA extension in the PRZ. SL @ 1.07. The RiskReward ratio is good standing at around 3.7. Since the RSI show such an oversold state I would personally execute the trade right after it touches the D point. Another important thing. Since the high volatility this friday we might have a huge gap which might invalidate the pattern but we will see how it plays out.
That's all, folks.
