Trend conntinuation/VSA Trade - On the 14th of Aug there was a high volume of supply that came in on the 4hr timeframe which sent price dropping well over 200pips, we now have a 38.2% retracement of that move where price has just put in a VSA Trap Upmove which rejected the 50ema and engulfed the last 40hrs of trading. I'm expecting price to trade lower to it's...
Break and retest of 4hr continuation pattern. There was also a massive double top inside the continuation pattern and price broke and closed below the neckline. There was massive volume that came in on Friday in the form of an Upthrust on the 1hr timeframe which sent price down and now a 50% retrace of that move to has caused price to reject of the 50 fib and 50...
Trend continuation to the downside. Selling volume came in on the 26th followed by a move to the downside and now we have a 38.2 retracement and rejection at the 50 EMA with a confirmed Upthrust. Expecting price to reach the 1.1000 Key level with partial profits taken at 1.10298 and stops moved to breakeven as price can turn around from this point.
Breakout after Re-distribution (which was also a descending triangle). There was a fakeout to the upside yesterday with massive volume but price has now broken out to the downside today. Shout things play out, I expect price to go down to it's key level of 1.1000 if it breaks support at 1.10298, where I'll be looking to take partials and move stops to breakeven.
Break out of profession Re-distribution area which also had a bearish harmonic pattern then a retest of the continuation pattern support area, which should now act as resistance. Price also rejected the 50EMA in confluence with a 61.8 after a double top that formed earlier today. Expecting price to drop further and put in new lows should things play out accordingly.
There was massive amount of selling last week Thursday 18/07/2019, this is witnessed by the significant amount of volume that came in on the day followed by a massive push to the downside. Price has now retraced 50% of that move and put in a pinbar candle formation which is also a "no demand" VSA candle because there is no volume on the upbar indicating that there...
