MTForexBook

MTForexBook Updated 

We have a horizontal line that was never retested once it was broken. We have an ascending trend line that was close to being retested on the 1H, but not a confident retest. We have a potential double bottom at a support/resistance + 78 fib retrace line. If we close above this line, I'd look for it to go north to the 38 fib extension point (where arrow ends).

MTForexBook

We did not retest the key support that was broken. We have hit a minor support (although a bit messy) and a 161 Fib retrace line. We are also oversold on RSI. I wouldn't say we're fully divergent as well as RSI is horizontally aligned. I think we could extend up to the 61 Fib extension (where the arrow ends).

MTForexBook Updated 

We are currently breaking an ascending trend line. There's a center-like horizontal support/resistance which the latest trend has hit and is reacting on. If we close the next couple of 4H candles below the ascending trend line, we will likely double bottom on the primary trend line. If we can break above the center-like horizontal support/resistance, there's a...

MTForexBook Updated 

We've reached the March 2020 support. Look for a break above the descending trend line before looking for a buy opportunity.

MTForexBook

We have broken above a descending trend line. We have begun forming what looks to be higher lows and higher highs. This could be an opportunity to jump in on the beginning of the push up.

MTForexBook Updated 

There's a clear triangle pattern. We are close to testing the ascending line. Watch this test for another move up or and break-retest-fall.

MTForexBook Updated 

We have reached a key support/resistance line. I would wait for a cross above the current descending direction, on a lower timeframe before looking for a solid buy.

MTForexBook Updated 

We are right at a key support/resistance line. This looks to be acting more as a support the last couple of months. However, we are currently retesting a break of the major trend line. Wait for the next couple of 4H closes to determine potential direction.

MTForexBook Updated 

I'm looking for a retest of this key support/resistance line. This line has multiple reactions on it. This'll be a key area to watch for a buy or sell move. Wait for confirmation.

MTForexBook Updated 

I'm not exactly sure we're going to back test the ascending trend line and head down. We were pretty oversold. I'm more convinced that it's going to recapture the horizontal support/resistance line, retest once above and then head to the most recent highs, ultimately working its way to the weekly downtrend line.

MTForexBook

We've got a break of an ascending trend line. We've got a head and shoulders pattern. I'd wait for a confirmed break and retest of the H&S pattern/horizontal line before entering a sell.

MTForexBook

We have two routes this could take; retesting the previous high broken or, go up as we're testing the minor resistance.

MTForexBook

We have come storming back from a week EUR week. If we can successfully retest our latest break of a resistance line, I think we have the opportunity to head to a decent resistance level on the daily view.

MTForexBook

Based on previous price action, I think this could possibly test the last high point (light blue box) and bounce to reach the major resistance line where we have numerous reactions; did not reach it this past Friday. If this doesn't play out, we'll have to wait until it potentially reaches primary support to watch for the next move.

MTForexBook

We are at a support/resistance line with multiple reactions. We never retested what looked to be a clear support line, once broken. We could come back up to test. Or we could head further down. There doesn't appear to be too many supports if we go down...it could go down pretty far.

MTForexBook

We are at the lower of two ascending trend lines, each containing multiple reactions. Next two or three closing 4H candles could tell you the future direction.

MTForexBook

An untested support line + an untested ascending trend line. We want to see price move back up to test both and then fall to support (blue box with two reactions).

MTForexBook

We are currently at a support/resistance line. The next few 4H closing bars can indicate a break down to ascending trend line or a pop above this support/resistance line.