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Wedgebreakout

GBP-JPY| LONG SETUP|POSSIBLE REVERSAL|FALLING WEDGE|ONE HOURGBP-JPY is moving in a bearish direction. It appears that there is a formation of Falling Wedge Reversal Pattern as well as presence of the Divergence. In this case, this Forex instrument can take a possible reversal from its current price position. Therefore, a long trade setup is suggested in this chart in case of breakout from the Lower High mentioned in the chart. Risk must be taken up to 2% of the total portfolio.
Long
by haroonsiddiki
AUDUSD: Bearish signal below 0.6680AUDUSD pair successfully broke below the wedge pattern as I mentioned in the previous analysis. However, it seems that more liquidity is needed to support the downward movement. It's likely that the price will undergo a corrective movement towards the level of 0.6680, which is a very important level where the broken trendline, Fibonacci level 23.60, and the moving averages 50 and 100 on the 4-hour timeframe converge. Additionally, the point of control (POC) is also located at that level, as shown on the volume profile indicator. Any sign of reversal from this level will be considered a bearish signal towards 0.65970. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
1
USD/CHF Possible PeakWe are are pushing up into new yearly highs. Price has nibbled through a few times from what it looks like from the three push pattern. It was good for a 150 pip drop. Sellers who took their profits are good. What about the sellers who anticipated a further drop and held on? They are in serious heat right now and trailing/break even stops have been hit. Now we have another pattern presenting a selloff even though we are witnessing previous sellers taking heat. These sellers will get let out. But not soon. Damage have to be done first. It could take days or weeks. Very rarely we screw up that bad to be right back into profit the next day or two. Also we still have sellers from end of day pop ups who haven't taken much heat. They guys will be targeted in the coming days. Then breakout buyers will be rewarded and taken sideways again. FX:USDCHF
Short
by PEAKFINDER
POTENTIAL BUY TRADE ON GBPJPY -BREAKOUT OF FALLING WEDGE PATTERNAs it can be seen from the chart, GBPJPY broke a critical resistance price level which has since then been retested. Evidently, it has successfully retested that level which has now become a strong level of support. In conjunction with the break and retest of the key level, GBPJPY has broken out of a bullish falling wedge pattern, increasing the probability of this trade being successful and reaching the expected price target. *NOT FINANCIAL ADVICE, MERELY AN OPINION*
Long
by Trader856