Munky83

Munky83

This is a risky trade as it is counter trend along with the FOMC minutes out later in the US session. Price has been in an uptrend since beginning of this year, it has been nicely following a rising channel on the daily. After price hit a strong resistance it had a slight correction and then moved up again, it hit into the resistance a second time with a strong...

Munky83

Global trend is down but price has been in a retrace since early May and currently testing a strong resistance which coincides with the FIB 0.382 of the retracement just a few pips above, price has been nicely following a rising trendline support on the retrace as well. On the 4HR it is forming an ascending triangle, I expect price to test the trendline a few...

Munky83

Price is ranging and has broken and closed above a resistance level, after a quick daily retrace it is moving up again. On the 4HR price is nicely respecting a trendline resistance and has formed a double bottom on the horizontal support which is also close to the 4HR 200 EMA support. Looking at the FIB retracement of the last bearish leg the neckline of the...

Munky83

Price has broken a 4HR support, on the 1HR it is forming a descending triangle. I will wait for the candle close below and sell on the retrace. This is not a signal and any feedback would be greatly appreciated. Thanks Munky83

Munky83 Updated 

Price is in a weird bit of a range and currently at a support, on the 4HR it is busy forming a nice double bottom, I will wait for the breakout and the 4HR candle close above the neckline to buy the retrace. The support area the Price is forming the 4HR double bottom on is also the Daily 200 EMA support, this confluence area makes me more confident in the long...

Munky83

After ranging the price closed below the daily support, on the 4HR it is forming a double top and the neckline is also the FIB 0.618 of the retracement. I think that if the 4HR candle closes below the neckline price might go down further. I will wait for the candle close below and then sell on the retrace. R:R for TP 1 and moving stop to BE is 1:1 and 1:2.2 for...

Munky83 Updated 

Price had a nice bullish move up and found resistance at around 1.7332 from where it retraced to a daily support, on the 4HR timeframe you can see a slowdown in selling coming to this support when looking at the candle stick formations. On the 1HR there is a possible double bottom forming, I will wait for a break of the neckline with a candle close above and then...

Munky83

Price has been ranging since around March this year and is testing the horizontal resistance again. On the 4HR it has formed a double top and broken the neckline, I will now wait for the candle close below and sell on the retrace. My Break Even will be around 0.67452, should the price hit my BE before retracing I will consider this trade invalid. This is not a...

Munky83

Price is at a Daily Resistance and formed a double top on the 4HR, I will wait for the candle close below the neckline and sell on the retrace of the broken neckline. I will put my Break Even at 0.60043 as price could potentially reverse again from there. This is not a signal and I'm still learning, any feedback would be greatly appreciated. Thanks

Munky83

Looking at the daily chart the price has been ranging since Dec 2022 and briefly broke out in the beginning of May but respected a vertical resistance and made a strong bullish move back below the broken Horizontal Resistance, again perfectly respecting the vertical support and moving up from there back to the Resistance. Looking at the 4HR it is now busy forming...

Munky83

EUR/GBP has reached a strong Support that has held all year, on the 1HR I see a double bottom formed at the bottom of the support. I suspect that the support will hold for now and price will move up a bit. I will wait for 1HR candle close to place a limit order to buy on the retrace of the broken neckline. This is not a signal, I'm still learning and it is just...

Munky83

Hi, Price is currently at a daily resistance, on the 1HR it has formed a double top and broken the neckline. I will wait for a retrace to the top of the broken neckline to sell. Thanks

Munky83

Hi, The price was in a downtrend until it started ranging for roughly about 12 weeks, it eventually broke the support of the range with a strong Bearish move but found support again at the 2020 low of around 0.6600. Price retraced back to the broken support of the range which should now be quite a strong resistance and made a nice rejection doji on the...

Munky83 Updated 

Hi, Price is testing the daily resistance, on the 1HR it is forming a nice little double top. Waiting for the hourly close below to sell on a retrace of the broken neckline. Any feedback on the analysis would be appreciated, this is not a signal. Thanks

Munky83

Hi, Any input and feedback would be appreciated, I'm still learning and this is not a signal. Bearish biased as the price has been setting lower highs and lower lows since it's last peak in Dec 2022. On the intraday the price is forming a bearish triangle on the 1HR, I am waiting for the close below to sell on the retrace at the confluence zone of the falling...

Munky83

Hi, I'm still learning, this is just a thought and not a signal. Price broke a resistance with a daily candle close above, now waiting for a retrace to around the middle of that broken zone to place a buy. Any feedback will be greatly appreciated. Thanks

Munky83

I'm still learning so any feedback would be appreciated. Price broke below a support identified on the Daily chart, now looking at the 4HR to execute the trade. I will wait for the price to retrace to around the 11470 area to place a short trade. This is just how I see it going, but I'm still learning. Thanks