Overall trend has been bearish from the daily time frame
However on the 240 TF we have a Double bottom pattern with Rsi oversold on 1st leg - signal for a bullish reversal
On the 60TF we have a structure support that has been tested multiple times - buyers holding this zone - we even have a bullish candle push - also an entry signal
Trade taken on the 15TF on...
Bullish bias on GBPUSD
Divergence on the 60min TF is an indication for me for a bullish price action push
Coupled with an indecision candle on the Daily timeframe as well as divergence, we might see price push bullish
Entry on the 15 min TF on retest of structure support with a bullish candle signal marked with a green arrow
1st target at 1.5R. If it hits then...
Trading off price action. Looking for price to bounce of Resistance zone - sellers to come in and push price bearish as we also have buyers taking profit
1st target at 1.5R and move stops to breakeven
Manage trade if it moves bearish to target 2R and 3R
Fundamentally - Yen has been gaining strength as a safe haven across its pairs
Good luck!
After a bearish break through of the Pennant pattern we are seeing price pulling back to retest mid of the pattern
Predict further bearish price action to test 0.007 - 0.005 levels
In line with overall Crypto currency market bearish sentiment, that has recently been seeing pullbacks and consolidation as sellers take profit and buyers weigh their options to hold...
SC/USD trend has been bearish overall as an adverse effect from the bearish crypto market
We have formed a wedge pattern typical of a bearish break to the downside to test support level at 0.01 for potential buy zone
Further dip
We have formed a bearish flag pattern on the Daily timeframe, typical of bearish break in price
If we test $28,800 and close below, price might push further down to between 18,000 - 20,000
Good luck....
We are in overall consolidation but if we break structure support, we will be seeing further bearish movement. Looking to go for a quick in and out buy at minor structure on the hourly chart with a harmonic bat pattern entry. Target will be 38.2% level of X-D leg that will be adjusted with price movement, thus lowering overall take profit
Good luck...
