The 1H Ascending trend line is now meeting the descending Daily trend line. Looking for a breakout to either side, a retest of the broken trend line, and a continuation off the zone
Looking for a break of the zone we are currently sitting on top of to take Gold shorts
The pair had been trading at a 5 months high on the 21 September 2018 and formed a big bearish shadow Sell stop was activated which was at 146.90 , it got activated on 15th October 2018. The pair is still trading around the 146.90 which makes the short still valid . Take Profit is at - 140.60 Stop Loss- 149.740
Looking for a break of the bearish market structure and a retest of the 113 area to go long to ~115
Looking for a retest of the supply zone ~2.04680 to go short to the ~1.969 demand zone As always, make sure you have confirmations before entering the trade
We have broken the support channel of this pattern!
There are several supports to stop a flat out dump, but I still think it's heading south.
GBPUSD has been dropping for the past 5 months (April 2018) and i think its an opportunity to ride the wave a bit more... Even though i caught a few pips when the market was bullish briefly, i wouldnt recommend going against the overall daily trend so im all in for a Sell the next few days
I plotted the original red lines 15 days prior and has stayed on course ever since, thought I would share in case anyone else agrees. keep it simple stupid, hopefully.
Jumped in a little early on this pair, but I still think it's going north. News may alter this. Honestly, not the best trade but worth posting for reminding how crucial and important PATIENCE is.
1) Wait for confirmation of bearish trend in the coming weeks 2) Watch out for a bullish fake out above 111.000 PL Just is just my outlook and not a trading suggestion. Please feel free to comment!
Price got rejected hard off previous support and resistance area with a long bearish candle. Moving averages are looking like they are about to cross over as well with proper angles indicating long-term bearish reversal.
1) We should see a continued retrace to 108.800 (Fib=0.38) and a possible price consolidation before the bullish trend continuation to 111.200 OR a break of 108.800 and retrace to FIb 0.5 before bullish trend continuation 2) Looking left we can see strong price rejections (yellow circle) around the 108.800 price level which will cause us to believe that price will...
Bearish Engulfing on Daily, Followed by a Hammer indicating a Bearish swing down to the trendline. -------------------------------------------------- Also expecting another breakout of this trendline if the price does go my way, which would be to 1.1850.