Confluence factors: · Double bottom · Trendline bounce · Engulfing in 1hr chart
Break and retest just happened in 1 hr timeframe. Confluence: · 0.786 lvl · Resistance retest · Trendline retest
According to my analysis, the price broke, will retest the trendline and level and then drop to the bottom trendline. Confluence factors: · Retest of support turned resistance · Retest of trendline · The retest will be a 0.78 fib pullback
Confluence factors: · Rejection of support · Rejection of trendline · Rejection of DAILY fibonacci 0.5 level · Double bottom · Three bullish soldiers candlestick pattern (Optional)
Price will test the lower support because of this high probability confluence move: · Rsi hidden divergence (Continuation) · Trendline retest (Continuation) · Support retest (Continuation) · 61 Fib level (Continuation)
If price shows a reaction to that zone, the short reward could be up to a 6:1
The breakout of this triangle will determine the direction of the market. It will probably be bearish because the market already tested the top resistance twice.
Confluence factors · Retested major support · Broke 2 resistance levels · Broke trendline · Resistance turned support and is on fibonacci 38%
The breakout could lead to a bullish move of almost 500 pips in the next 3 weeks.
The triangle is visible in 4 hour and 1 day timeframes and it looks like it will bounce on the top trendline and go to the highest peak.
My analysis suggests that it will go up again and maybe bounce around previous level
Triangle in 30 minute timeframe suggests a bullish move.
A descending triangle will breakout in the next 15-24 hours
If a candle closes below last swing low on 1h timeframe, price should at least touch the first take profit.
It seems to be going down in 5-20 hours.
Symetrical triangle could lead to a downtrend after breakout and 50 EMA is acting as resistance.
Resistance level has already been suported but recently, a double top has formed suggesting a posible reversal.
USD / CHF Retest of top trendline in big falling wedge.