Inverse head and shoulders, break out of the symmetrical triangle. Expect price to push back in to the triangle a little at which point I'll be looking for bullish signals for 200/250pips
Break of bearish trend line, with a solid retest last week.
Price is currently consolidating at the 61.8% fib retracement level with multiple pin bar rejections being show on the 4 hour.
Overall in a HH, HL bullish run.
Great risk reward
400 pip target 125 stop, price broke the bullish trend line on 07/02 retested today 08/02 price couldn't maintain the upward momentum and now looks very bearish
Slight pull back to give us a third bounce on short term trend line, somewhere around 1.7700 then long up to 1.8100. 1.7800 has acted as a resistance point which is my theory behind the pullback
We’ve seen a 100 pip consolidation range for the majority of this week, price broke the bullish trend line mid-august dropping down to 140.00. We’ve seen a retest of the bottom side of that trend line over the course of this week which is the 142.50 mark (its held firm) we are now also seeing the start of a new bearish trend line created from the last 147.50 hit...
111.60 (38.2%) a close above this level would have me going long. Weekly High 111.50 has acted as a resistance line. Lot of news coming out tomorrow 31/03 that will ultimately determine the direction. 111.10 (61.8%) is my short level. ATR on the pair is 60 pips
