The price has hit the trend line formed by the previous swings and while hitting the trend line, it forms a rising wedge pattern, which indicates a bearish continuation pattern
Pros:
-Hit the Trend Line, which acts as a resistance
-Forming a rising wedge pattern
-Shooting Star Candlestick pattern
Cons:
-Daily Trend is still Bullish
On the daily time frame we can see that the price is breaking the triangle pattern with a pretty big bullish candlestick.
Going long, entry price at the nearest resistance level, setting the stop loss below the previous swing low.
Lets wait how it turned out.
Better Trader.
Pros
-Some bullish patterns are showing on the charts. (Falling wedge pattern showing a bullish continuous pattern and reversed head and shoulder pattern showing at the area of support which is the 61.8 fibonacci retracement area)
-Price has touched an area support which is the 61.8 fibonacci area
-There is a divergence occured between the price and the stochastic...
The oil has reached its 50% fibonacci retracement level, and making a flag pattern. The entry trigger also presents itself, which is the engulfing candlestick pattern forming around the 50% fibonacci retracements (which i considered as an area of value). The other trigger is with the stochastics oscillator, it turns out that there is a divergence between the price...
Price shows rejection upon reaching support level, plus we can see a bullish engulfing pattern around the support area.
Major trend is still bullish.
Going Long......
And see how it goes.
Expect for the worst, therefore you will not have any regret.
Major trend in daily is still in bullish trend, even though the price is still in the bearish secondary trend.
Going into a lower time frame, H1, I saw a double bottom pattern confirmed with the breaking of the neckline, supported with divergence in the MACD and Stochastic oscillator. Entry price around the neckline Breakout.
lets see how it goes!!
Here we can see on the H4 charts that the trend is still bullish, however, there looked to be a sign of a bearish reversal, or maybe just another correction, who knows. What i see is a divergence on the H4 charts between the price with the Macd oscillator and the stochastic oscillator, and there is also a bearish engulfing candlestick formed at the divergence...
On the daily trend we can see that the price just break the bearish upper trend line. Furthermore, on H4 time frame we can see a dragonfly candlestick pattern supported by a divergence between the price and MACD oscillator. Going long now.
Daily Trend is bullish with the price retracing back to the daily trendline forming a flag pattern. On H4 price are retracing to the 61.8 Fibonacci level. Going Long for now
FX:EURGBP
Looking at EUR/GBP daily trend is up, and now the price resides at the level where the trendline is.
Going into the lower timeframe, H4, Pin Bar is being formed at the area 61.8 Fibonacci Retracement, Going for long opportunities with stop at the next fibonacci retracement level FX:EURGBP
