H1
Some Structure Plays on GBPUSDHey Traders,
So I am taking a look at GBPUSD and we did get a break below Close below, which to me is an indication price wants to continue going lower. So I have laid out two areas for a potential short. I want to see some reversal candlestick formations to help me get in short, also the RSI being overbought will also help me as a reason for entry.
If you have any questions feel free to comment below
EURGBP: Butterfly pattern in Flag pattern setupReason to entry:
-Valid butterfly pattern inside flag
-Fibonacci confluence (4)
-Final target match with Higher Timeframe Gartley's
-RSI oversold
-1:11 Risk Reward!
-"brexit"
Entry:
-wait for higher high higher close candle
-aggressive entry at butterfly 127.2 completion
-aggressive entry at butterfly 161.8 completion
-breakout of flag pattern
Exit:
-butterfly's target #1 and #2
-Flag pole projection
Void if:
-failed butterfly
-failed flag
-if 127.2 butterfly failed, re-entry at 161.8
Remember that market always right!
Manage your trade well!
CADJPY: Perfect Gartley's Pattern SetupReason to entry:
-Perfect Gartley's pattern
-strong structure at entry and final exit
-AB=CD pattern
-also as wedge pattern
-fib confluence (2)
-wait for RSI and candle confirmation
Entry:
-Gartley's completion
-breakout of wedge pattern
Exit:
-38.2 retracement
-61.8 retracement
-projection of XA leg
Void if:
-Gartley's pattern failed
Always remember that market is always right!
Manage your trade well!
H1 bullish Bollinger Band play on EUPrice may retest resistance level on the upside at 1.06246. If price retrace back to mid BB, it will be a good entry point to go long. Overall price is making a steady bullish move. Take profit 1 at 1.06261 with 33 pips and profit level 2 at 1.06549 with 61 pips. SL at 2 pips at lower BB level. G'luck!