price filled the weekly open gap to the buy-side and to the sell-side.
the weekly open gap will act as resistance for price to go up.
Fed Powell speech on raising interest rates next week will likely keep price going down
Break of structure (RISING CHANNEL)
Consolidation after break
Break of consolidation
Taking a 1:2 trade here
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BOUNCE FROM RESISTANCE
PRICE CORRECTION TO .382 FIB
EXPECTED DROP TO .618 FIB EXTENSION WHERE SUPPORT LIES
Also if you look left of the price, similar situation, history repeated.
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quick short term sell
bounce off resistance (previous HH)
Break of triangle pattern formed at resistance
price is retesting broken pattern
Target is .618 retracement of the main trend which is bullish since last HL has not been broken yet.
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Author not responsible for any losses incurred
Retracement (pullback after impulse)
Trend is bullish...(4hr)
Trading the pullback.
Slight divergence on RSI
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Trading the pullback to .618 FIB
Divergence on RSI at previous high
price broke ascending trendline to that high
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Author not liable for any losses incurred.
Overall price is trending up.
Price formed a TRIPLE BOTTOM pattern and if you look left of the price there was a double bottom at the same price zone.
Price has broken the neckline of the triple bottom.
Going long on this pair.
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Price is on an up trend
Price is at 0.618 fib retracement level where the new HL is likely to be formed if the trend holds.
On a lower time frame ( i have used 30min) a descending wedge pattern has been broken and price has potential to rise further up towards the .382 fib extension level
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Price broke previous HL that led to the last HH and formed a new LH and broke slightly below to form a new LL and using fib tool i estimate a .618 fib retracement for entry and a stoploss (approx. 55pips) above previous LH and a 38.2 fib extension as a take profit (approx. 120pips) ....RRR is 2.28
Comment to add your analysis.
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Overall price is trending up
Price has been making HH and HL
Currently price has made a HL with a double bottom (1 hr tf) and also using fib tool rejection at .618 level
Potential to make a HH at the .50 fib extension level
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Author not responsible for losses incurred.
overall price is in a mini channel
price bounced off and has been forming HH and HL
Price just bounced of 0.5fib level
Fib extension .618 is my next HH
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Author not responsible for any losses incurred.
