Confluences: 3rd tap of TL 61.8 fib level candlestick rejections 50 EMA
Recap of EN short which played out perfectly. Hit Fib extension target/TL and Market structure.
Potential 300 pip setup for GJ. 30 pip stop = 1:10 R/R
If bottom trend line is broken, could be seeing a nice reversal back down on the higher timeframes. Meantime I am short.
Inverse H&S on the 4hr - looking for a measured move up to the green region (tp)
We have reversed and headed back up, I have entered a long position. I'm expecting this to meet the 50% fib level which ties in nicely with a heavy resistance area. I will be looking to short here. We highly bearish on the higher timeframes. Will be interesting to see how this plays out.
After a very strong bullish run from the Swiss over the past few days, I am looking for a retracement to the 1.000 area. We have breached 2018 highs, and a retracement would be very healthy. I am targeting the 1.00 region for multiple reasons: - Key support/resistance price area -Looking at the fib retracement - this correlates with the 61.8% fib retracement...
Analysing EURUSD. After breaking out of the uptrend, pretty significantly, I believe more bearish momentum could follow. I am cautious as I believe we will find resistance around the 61.8% fib retracement. I am not trading this pair until the price provides some more information.