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Sideways

EURUSD-Weekly Market Analysis-Dec19,Wk2The bullish bat pattern is still valid, if the market head down and retest the entry price, I will engage a long trade after candle confirmation. If the market extends upwards, I will short it. reason being, on the higher timeframe, is shows consolidation and either side of the market expansion is possible, that is because my trading style having the 1st target reach, I will shift stops to entry and keep the winner, therefore event market didn't expand, I'm ok with it too. Because once market reaches the 1st target I will have no downside, only upside.
Long
by RaynLim
GBPCHF out of a 5-week congestion period!GBPCHF seems to have the necessary strength to get out of a 5-week congestion phase. that is quite unusual for such a volatile currency pair. Buyers seem to push the price higher, already attempting once to break the resistance formed by the sideways trend. Bad news is that the price is currently also forming lower highs, showing a very tight pennant on the chart. In this case, we need to have a second confirmation by buyers, so we will wait for a stronger action that would push the price out of the long term sideways trend and the short term pennant.
Long
by FedericoSellitti
1
GBPCHF Short Term Trend Reversal (Deep Pullback) Strategy STRATEGY: Support and Resistance - Short Term Reversal Strategy Long Term Trend Time Frame: 1D/4H Focus Time Frame: 4H Market Condition 1D Short Term: Sideways 1D Long Term: Uptrend Area of Value (AOV) Resistance: 1.2953 - 1.28901 Support: 1.24809 - 1.23807 Entry Trigger 4H: Price Rejection / Inside Bar Entry Price (EP): 1.27482 Stop Loss (SL): 1.28223 Take Profit (TP): 1.24894 RRR: 3.49 Analysis 1D - Looking at 1D TF, we can see that the long term trend shows uptrend (86 days since Aug 11, 2019) and currently consolidating since Oct 17, 2019 (22 days). Current price is respecting 10 EMA which might be broken anytime soon. Once it breaks down, it might find support at 50 EMA on, Previous Resistance turned Support, or at Ascending Trend Line. 4H - Looking at 4H TF, price formed a descending channel which shows trend weakness. If it gets broken, the price may perform a deep pullback at Ascending Trend Line/50 EMA or at Previous Resistance Turned Support at 1D Time frame. NOTE: This post is for my reference/journal purposes only. Trade at your own risk.
Short
by jumpstartscript
1