WE'VE JUST COMPLETED A PUSH TO THE DOWNSIDE AFTER HAVING REACHED A DAILY SUPPLY ZONE. PRICE IS STILL IN A BEARISH MARKET STRUCTURE AND IS SITTING AROUND OUR 61.80% FIB RETRACEMENT LEVEL. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
GBPJPY IS CURRENTLY TRADING WITHIN A DESCENDING CHANNEL,WE'RE ALSO SITTING BELOW IT'S DAILY PSYCH RESISTANCE LEVEL AT 140.500, WHICH COINCIDES WITH OUR 61.80% FIB RETRACEMENT LEVEL. PERSONALLY I'D WAIT FOR A BREAK AND RETEST OF STRUCTURE AS INDICATED BY THE BLACK LINE / OR A SIGNIFICANT CANDLE STICK FORMATION. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
WE'RE SLOWLY APPROACHING OUR MONTHLY KEY LEVEL @ 0.69250 (RESISTANCE) OVERALL TREND IS BEARISH. BEFORE ANYTHING I'D LIKE TO SEE A PUSH UP TO OUR 61.80% FIB RETRACE BEFORE WE CONSIDER ANY SHORT POSITIONS. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
WE HAVE 2 TAPS OF OUR DAILY RESISTANCE LEVEL WHICH HAPPENS TO ALSO FALL WITHIN THE SAME AREA AS OUR 38.20% FIB RETRACEMENT AND DESCENDING DAILY TL. A 3RD TAP AND WE'LL EITHER SEE A BOUNCE OR BREAKOUT TO THE UPSIDE. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
AS YOU CAN SEE PRICE HAS BROKEN THE HL TO THE LEFT (CIRCLED) AND IS CURRENTLY RETESTING. THE RETEST AGAIN COINCIDES WITH THE 38.20% FIB RETRACEMENT LEVEL. WE COULD STILL SEE PRICE PULL BACK INTO THE 61.80% LEVEL BEFORE SELLING OFF. WE COULD ALSO SEE A PULLBACK TO FORM A DOUBLE TOP. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
SITTING AT A DAILY RESISTANCE ZONE, BARE IN MIND WE COULD STILL SEE A PUSH UP TO THE DAILY SUPPLY ZONE @ AROUND 1.11500 OR 88.60% FIB RETRACE. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
PLEASE NOTE THIS IS JUST MY BIAS, NOTHING SAYS THE H&S WILL SUCCESSFULLY COMPLETE IT'S FORMATION, WE'RE STILL WAITING ON A BREAK OF THE NECKLINE. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
WE HAVE A BROKEN ASCENDING TL ON THE DAILY TIME FRAME. WE'RE STILL TRADING WITHIN THE DAILY CONSOLIDATION RANGE. LOOKING FOR A RETEST OF THE BROKEN TL OR 88.60% FIB RETRACE. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
NZDCAD HOVERING AROUND A DAILY RESISTANCE ZONE. WE HAD A SMALL FAKE-OUT THE DOWNSIDE BUT PRICE QUICKLY PULLED BACK IN AND IS SITTING @ OUR 78.60% FIB RETRACE. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
XAUUSD SHORT IN THE MAKING. WE HAD A FAKE-OUT OF THE DAILY DESCENDING TL AND A DAILY PIN BAR OFF OUR 61.80% FIB RETRACE. THIS IS FOR EDUCATIONAL PURPOSES ONLY, TRADE SAFE.
