I believe we haven't reached the top of the up move yet, so entering long where I believe the retracement will stop.
GU advantageous Risk:Reward idea, assuming the up trend continues
Bullish crab might be forming, which gives us a price level to enter/add to your longs.
This is my personal road map for EU in the coming months which I publish just to see in hindsight if I was right. I'll be using this road map to trade on lower Time Frames for as long as it remains valid.
GBPUSD has an M15 bullish bat potential with D-Leg finishing at ~1.2986-1.2985. This is in line with higher Time Frame direction. S/R level at 1.297. If Bears want to shape out something like a H&S prior to breaking this support, target of this trade would land somewhere around 1.3125.Buy Limit opened as per screenshot. Will be cancelled if price goes above...
Will we see a break upwards towards the 1.095 area?
Entering this position with some Risk Free Capital at end of week. I'll close this position at market close if SL or TP not yet hit.
Long based on: 1) Previous High: resistance becoming support 2) Daily Pivot Level 3) 50% Fibonacci retracement SL at 0.747, below the 61.8% TP not set as we'll be using a trailing stop
See Idea Title
After the big sell-off on the 25th, we saw a regrouping of the bulls at the 0.7 level, pushing price back up. The first resistance the bulls met was at the 38% with some big momentum, so going through it initially.. The second resistance was at the 50% retracement with 3 consecutive touches but no breaks. Now price is testing the 61.8% since Friday 27th with...
A bullish bat will be completed at the 88.6% retracement. This spot coincides with an ascending trendline and will be a repeat pattern of a prior 88.6% retracement.
We hope price goes up enough to trigger our Sell Limit prior to resuming the overall downtrend
After the big D1 pinbar (left ellipse) formed, it looked like the market was going to go short. However, a few days later there was another D1 pinbar that threw everyone off. Ever since these two pinbars, it's not clear as to which direction the market is heading. Well, on M15 we see a squeeze nearing a decision point. Which ever way the market will breakout from...