Trend - Uptrend
Daily structure - Price action/support maintained and BOS not seen
There's currently an impulsive move, but looking at the price reaching my target, I'm looking for a retracement or break of the incoming resistance and retest for another entry.
Mkt trend - Downtrend after BOS on Daily
Price forming H&S on daily, First shoulder and head formed with price action going to form second shoulder.
price is approaching a POI/Support area. Lookout for signal at support level for an upside move/short buys
Price has been forming lower highs and lower lows all week. The support area has been broken on H1, and a retest has been done. A close of the H4 candle below the support would confirm a sell. We wait and watch.
Risk - 30 pips
Reward - Your decision
Weekly chart - Ranging Market
Downtrend on daily,4hr and 1hr chart
Last daily close - Bearish
Price is currently testing previous low/support formed on 4hr, break of support/previous low on 4hr, retest on 1hr and bearish signal for entry on M30 or 1hr.
Risk;20 pips
Reward: 65 pips
Be on the lookout for any high impact news on Monday for Eur & USD
...Mrwarm cares
Ranging market on weekly chart, weekly resistance respected
Bearish pressure seen on the daily chart with the last candle bearish, downtrend on H4. Price is currently consolidating on H1. Break of support on H1 and retest for entry.
Risk - 30 pips
Reward - 71 pips
...Mrwarm cares
Weekly chart - price respected a major supply area
Daily close - Bearish candle
4h chart - Downtrend
1hr chart - Downtrend
Price is approaching a minor support zone on H4, break on H4, retest and signal on H1 for entry
Risk - 20 pips
Reward - 78 pips
....Mrwarm cares
Price action is approaching a major supply area where the trendline (major resistance) has been respected consecutively. The high-impact news on GBP earlier today is what pushed for the buys, so let's watch
On Weekly TF, price broke a major resistance and is coming back for a retest, turning resistance to support.
last daily close is a weak bullish candle at the resistance about to be turned support
Ranging market on H4 before support was broken, retest done and inverse pinbar formed
Price is currently falling to support level, Left shoulder and head formed on H1,...
Market Trend - Ranging market (Weekly TF)
Price is currently at major resistance and last daily close was a weak bullish candle
Double top formed on H4 and H1
Signal on H1 for a reversal (bearish pinbar, Bearish engulfing) or a break and retest of previous low on H4 would be a signal for entry.
JPYs move in the same direction so EURJPY can give an indication...
Top-down analysis
- Weekly timeframe indicates a ranging market with price at a major resistance
- Last Daily candle was bearish below the major resistance
- Price has tested major resistance and formed a lower low
- Inverse pinbar (bearish) formed followed by a Bearish Engulfing on H1 which was signal for first entry
- Current pullback ongoing and signal on H1...
REASONS:
1. DAILY TIME-FRAME INDICATES A DOWNTREND (LOWER HIGHS AND LOWER LOWS). PRICE BROKE THE RECENT SUPPORT AND RETESTED, TURNING SUPPORT TO RESISTANCE ON THE DAILY
2. H4 TIME-FRAME INDICATES A FALLING WEDGE WITH REJECTIONS OF THE PREVIOUS RESISTANCE BEEN SHOWN.
3. PRICE IS CURRENTLY CONSOLIDATING SO A BREAKOUT WILL INDICATE THE DIRECTION. WE WAIT ON IT.
