UnknownUnicorn3974120

UnknownUnicorn3974120

Price is at Minor 61.8 level but larger 38.2 level from previous large swing. Daily has formed a pin bar rejecting these levels on the ascending trendline. Price is very choppy at the moment. Would like to see a break of this trendline on smaller time frame before entering - plan is to reduce the risk.

UnknownUnicorn3974120

The ascending trending that was respected has been broken. The price has formed a head and shoulders pattern. I expect the price will rally back and retest the trend line before making a considerable fall based on this chart pattern. Either stop loss at the top of the shoulders (approx. 56pips) or a tighter entry based on the retest of the broken trendline.

UnknownUnicorn3974120 Updated 

Possible double top? Price did not make full AB=CD. In area of consolidation. Bullish bar at 50 level. If retest of main trendline then down to 618 or 786 level making for a 3 Drives pattern. Followed by bounce upwards

UnknownUnicorn3974120 Updated 

Yellow box indicates larger time frame support area. Anticipate price to retrace to around that postion before continuing bullishly.

UnknownUnicorn3974120 Updated 

A Fib has been drawn from the last major swing. Price is now testing at the 50 level. You will see price has a level of support from a minor trend line based off the previous two highs. Divergence is evident on the one hour RSI A Double bottom was loosely formed at the 50 level followed by breakout and retest. This is coupled with a trend line breakout and...

UnknownUnicorn3974120 Updated 

This trade is on my watch list. I am waiting for a break out of the the triangle that has formed. There are numerous levels of structural support which is affecting the price. Will continue to watch.

UnknownUnicorn3974120

Waiting for the start of the next week. Price has gone through and closed below the Fib 50 line from the Double Top that formed. 61.8 shows a large common number 1.09950. This would be interesting point for a reversal. Or the price may carry on to the 78.6 level. We can wait for next week.

UnknownUnicorn3974120 Updated 

This is a good example of harmonics at work. This pattern can be ridden down to the D leg, then the trader can ride it back up once it reaches the price reversal zone. From the chart we can see a descending trend line. Price has reacted to the trend line and rejected it. The price could head down from C to D. The price is reacting to structure (yellow zone)...

UnknownUnicorn3974120

This analysis is for a small trade. I have only done this as a paper exercise. I may not trade this as it would go against one of my rules. I will be trading against the main (ascending) trend line. However, The daily is forming a pin bar. The daily has a divergent stochs trend line On the 4hour there is a bearish engulfing attempting to form. There is...

UnknownUnicorn3974120 Updated 

Price has formed AB=CD pattern. Has made initial push downwards after reaching support level. Divergent on RSI. I would be curious if it sets up a 3 drive pattern. Two take profits identified of support and trendline, each gives 1:6 and 1:10 risk reward if place correctly.

UnknownUnicorn3974120 Updated 

I am naturally caution with GBP XXX due to the current political climate however; From the Weekly chart. Pinbar rejection at the 61.8 Fib level from the Monthly chart. Therefore this has formed an ABC triangle to the 61.8 level. Daily RSI is sloping downwards after rejecting overbought line. 4Hr / 1Hr Price has formed a consolidation box. I hope that...

UnknownUnicorn3974120

I have drawn fibs from the last major swing. Price is at 0.236 whilst not a major level in my opinion, it is still a level. Triangular wedge is forming. Inside the triangle I have placed Fibs. There is a large amount of Fib confluence from both minor swings. Price is currently rejecting the 61.8 level. I will wait for a breakout of this triangle to see the...

UnknownUnicorn3974120

I am waiting for further action from this. Daily shows bearish candle. I see bearish divergence is evident. I expect either a Double Top or a bounce from the ascending trendline after some consolidation.

UnknownUnicorn3974120

Weekly Downwards trend Daily Respecting trendline so far. At 38.2 of previous swing. Stochs is overbought, RSI still climbing, Price has already rejected from this line previously. Shooting star formed at TL Hanging man formed 3rd bar in (both are bearish) 4hr Price was making Higher Highs now has made one lower high. Rejection from 61.8. I would like to...

UnknownUnicorn3974120

Price has found itself resting on upward sloping trendline. The trendline coincides with a strong level of structural support. Price has been Bullish in the overall trend. Price is at the 38.2 from the last main swing of the Daily Chart. This is a key level. On the smaller timeframes, the 4 hour shows rejection candles. the 1 hour shows bullish...

UnknownUnicorn3974120

Price has made a strong Bullish rally and broken through Triangle Wedge pattern and has now stalled at the 78.6 retracement from the last major swing. I expect bearish retracement from the price. I expect a fall to either 61.8 or 50 retracement line from the last main swing. Each of these lines represent an area of high support / resistance from structure....

UnknownUnicorn3974120 Updated 

From the Daily Chart, price is Broken out of downwards channel. RSI and Stochs are on downwards path. From the 4hr Chart, price is Still above 38.2 retracement and strong support / resistance line. Expect price to continue to fall approx 30pips before reversal on 38.2. Bearish Long Upper shadow pin bar confirms assumption. RSI and Stochs are at low levels...

UnknownUnicorn3974120 Updated 

Based on my chart analysis. On the Daily Chart, price is; Showing a bullish side reacting to area of price support and Fib support. Price has previously broken out of a downward parallel channel. RSI and Stochs are >58 On the 4 hour chart the price is Near 38.2 retracement Coincides with Resistance turned support. RSI and Stoch's both show as overbought....