HTF bias is Bullish, i would like to price pull back into green demand zone which lines up with POC and 0.618 fib level.
Break of structure looking left, price action creating a new higher high confirming bullish HTF bias. Price then pulled back nicely into a demand zone which lined up nicely with 0.618 fib level and Point of control indicator (helps us see additional confluence where the move originated from
GBPJPY long. Price action broke and closed above a 4 hour resistance level on the 4 hour and on the 15 price pulled back and formed support and then bullish continuation pushed it higher.
Over all HTF is bullish, waiting for volume in London Open. Price has broken and closed above a 4 hour resistance level and has now pulled back and formed support. buy stop would be set above previous highs on the 15.
GBP/JPY - broke and close above a resistance zone on the 15 and continued to push up. 1:1.5 R:R.
Price broke above a 4 hour resistance level on the 15 minute and formed support. 1:1 Risk to reward.
I entered two long positions on the GBP/JPY on the London open. I used 5 minute conformation for both of them instead of waiting for higher time frame confirmation (structure and retest formed on the 15 or 30), If i had waited patiently for a pull back, retest and then confirmation on the 15, I could have had a better stop placement and a winner. I can be quite...
Price broke and closed above a 1 hour resistance level and pulled back and then printed a bullish candle on the 15 minute chart. Stop losses where set below structure.
This is my favourite Set up to trade. Why you might ask? Along with the HTF analysis, there are several other rules I like to see. 1) I like to see a break of structure, which is what we have here looking left. 2) A deep pull back to the supply level where the original move was made from 3) .786 or .618 fibonacci confluence 4) POC (point of control) line up with...
HTF ANALYSIS IS STILL BEARISH. Price action pushed into a strong supply zone and with RSI OBver bought and Bearish divergence, also with POC indicator lining up nicely with a sell from yesterday.
Price had had closed below a demand level on the 15 but was also over sold, I was bias for a possible reversal. We also had divergence on the RSI which can indicate a reversal.
Price action tested a fresh demand zone on the 15 minute, along with RSI over sold and divergence as confluence. Moved stop loss to break even and then into profits and locked in a 1.5% + win.
Price action broke a support level on the 1 hour time frame yesterday and then pullbacked and formed a fresh supply zone and then retested this level. There was also POC and fibonacci confluence.
Price broke and closed above a range on the 15 minute time frame, which to me indicated bullish momentum even though the higher time frame bias was bearish, I believed that price action was forming a base after a rally and then a continuation to the upside (another rally). Unfortunately i was wrong and in hindsight, looking at the RSI as it was showing over...
Overall higher frame analysis was Bearish so expecting price to push up and respect supply zone ( Added confluence was 0.318 Fibonacci level on the higher time frame and a double top at that level). SL was above structure ( will try make stops a little tighter to increase Risk to reward in future).
HTF bias - bearish. Price action formed a double top into a supply zone, which showed me that there was strength from the sellers in the market for a further push down, although i do like to see the market push up and grab liquidity, this doesn't always happen and sometimes when it does, it may stop you out depending on market momentum, but you have to accept this...
Higher time frame trend was bearish, price action broke a previous level of support and created a new supply zone which was retested as it didn't push or close above, i waited for a close of the candle and then I placed a short position. 1:3 Risk to reward.
Higher time frame trend was bearish, price broke a previous level of support and created a new supply zone which was retested and once it didn't push or close above. I placed a short position. 1:3 Risk to reward.