Because apparently I have to write this despite annotating my chart with the Signpost feature - two key points on my chart showing the reversal move. This is structural so I am taking a breakout continuation play. Price held above the previous breakout level, which is a good indication that further upside can be expected. At this point, not anticipating any false...
See Signposts on chart for key price action details.
See Signposts on chart for key price action details.
Price spiked up to the 0.73895 level and failed to break above it. We're seeing a retest at this level, which I'm betting on that it doesn't hold. There's a bit more downside potential as this move up is exhausted.
Bit late posting this signal, but it appears to be holding. The bulk of the move hasn't happened yet, but I expect it to continue throughout the night. Price attempted to trade to the upside and failed. Now that this has exhausted, we can expect downside.
Reversal is underway as confirmed by the higher low formation. This is considered by breakout continuation strategy. As long as this level holds during a structural reversal, we can expect further upside.
Currently betting on the downside after this pair made a run up. After failing to push higher, price made a lower high and continues to hold resisted.
This is a structural level that I've been eyeing. It has held up since June 18th. Take a look at my follow-up chart for a closer look as well.
See Signposts for key price action details.
See Signposts for key price action details.
See Signposts for key price action details. Targeting just 1-1.5 R here since we expect price to slowly drift higher after this sharp selloff. The target may change if the uptrend ends up being stronger than expected.
See Signposts for key price action details. If price spikes higher, there will be a pull back that would represent a scaling opportunity. The 4-hour level is currently structural so stop loss is set with respect to daily ATR.
See Signpost on chart for key price action details. Only one Signpost as this is what I consider to be a very standard false breakout play.
See Signposts for key price action details. Reduced position size since this is a start of the week move. Setup should still be good.
See Signposts for key price action details. Reduce size given that this isn't the cleanest setup. I would've liked to see a stronger reaction to the downside, but momentum hasn't picked up yet.
See Signposts for key price action details. Breakout above a level tends to work well when we have a reversal pattern over on a higher TF. This was observable so entry looking good so far.
See Signposts for key price action details. Due to the choppiness of this pair, I am not entered just yet. May sit out if daily ATR is still hovering 100+ pips.
This is actually nearly the exact same pattern seen in my EURUSD trade idea. I only take breakout continuation plays on structural reversal moves and this is another one that's underway.