Daily price action is showing signs of reversing at 1.00000 quarter point. Lower TF structure on 2H failing to make higher highs. 6H TF is what I am using to gauge exiting after a moving average cross.
Mainly confidence trade with high level of confluence and trend following
Weekly Bearish ENG, LH on H4 and M30 BOS with retest entry
USDCHF Long position, h4 structure break and M30 structure break retest
Daily bearish ENG, H1 lower lows and lower highs... H4 failed to make a HH
For the details breaking down this setup look at earlier post.
EA bears doing work for the last few weeks. waiting to see if M15 breaks structure to the upside and then to the downside again ending the H1 retrace and setting up a potential selling oppourtunity
After a few weeks of downtrending on NU H4 seems to be finding structure to start the retrace for the daily. breaking it down to the H1 to spot where we can potentially get in on this H4 retrace. MOST likley missed the boat on this trade but will be patient and see if we get another retrace to fill the pending buy order.
Triple bottom or inverted head and shoulders.. however you want to chop it up regardless of the term to categorize it the main thing that is important is that the neck line is broken. Daily downtrend slowing down with H4 breaking structure and starting to retrace. now that we have the neckline broken on H4 we can look for a buying opportunity and catch some pips...
UJ has been making bullish moves (HH's & HL's) for the last few weeks. With this bearish retrace we are at a 100% retrace on the H4 and a 38.2 on the D1......BUT just because the market makes a move towards a fibonacci PRZ doesn't mean it's a trade opportunity. That being said we are seeing H1 structure break bullish in confluence with our H4/ D1 up trending...
NU has been down trending for weeks now but I don't think the bears are done pushing just yet, I posted a previous mark up anticipating a bullish move but my bias has changed and the reason is based on Higher TF engulfings and lower time frame market structure making lower lows and lower highs and respecting those lower highs to maintain a downtrend.