Simple break & retest setup. I want price to retest this previous broken level (1.32692) to fall further. 1st TP will be the 0 fib level (1.32035) 2nd TP the -0.27 fib level (1.31570) Watch for false move Monday!
I see EU selling to around 1.14694, creating a higher low, and if price can hold here i'm taking buys all the way to 1.16000. If price breaks below this region, I will be looking for buys at the 0.618 fib (1.14071)
I want price to come up and give a 4th rejection on this small trendline. Price may wick further back to the 2nd red line I have placed and for that reason I may have a bigger stop loss. News coming at 4:30 AM, so keep that in mind.
From the 4hr chart, price started to place itself in this small downtrend channel. I want price to move to the top of the channel (which is also a 0.5 fib retracement level), then begin to sell off down to the blue weekly support. - New to trading, so comment and tell me how I can improve! -
On the daily timeframe, EURJPY has created a nice downtrend channel. Price has been making a bullish move for a few days and now it is time for a turn to the downside. We have a red support line that was broken and I want price to retest this zone. I will enter a short on the 0.786 fib level (129.793). - New to trading, so comment and tell me how I can improve! -
GBPAUD trend is currently bearish and to continue this trend I will be looking for a retracement to the 0.5 fib level (1.74704) for a long sell back down to monthly support (1.73142). This trade will also give us a nice downtrend channel to continue in for a great profit opportunity. - New to trading, so comment and tell me how I can improve! -
H&S formed on the weekly chart and pair cannot break the gray area. I see a sell to the bottom trend line. If price breaks this trend line, then a downtrend will occur. If price does not break the trend, I see a bounce into the next gray level continuing the uptrend. - New to trading, so comment and tell me how I can improve! -
Keeping it nice and simple. If UJ breaks this uptrend, we are looking for a short, then a retest of that zone to a full fall. This will give us a clean H&S pattern and land us into the blue area where we can see a nice buy. If UJ cannot break this uptrend we are looking for buys back into the top red area to continue on the uptrend. Take news into...