I HAVE A THEORY THAT PRICE HAS BEEN ACCUMULATING AROUND THAT POTENTIAL KEY LEVEL
AND TRIED TO BREAK BUT FAILED WHICH IS A FORM OF MARKET MANIPULATION THEN WHAT COMMONLY FOLLOWS IS THE DISTRIBUTION SO FOR ME ITS A SHORT ON EURGBP
THIS IS JUST A THEORY THAT INVOLVES THE SMART MONEY AKA THE BIG BANKS
ITS NOT MUCH OF A THEORY LETS SAY A SEMI FACT BECAUSE I HAVE...
I HAVE SO MANY REASONS IM GOING LONG ON THIS PAIR LET ME START
FIRST, PRICE HAS RESPECTED THE LOWER TREND LINE FOR MORE THAN 3 TIMES
SECOND , ON THE DAILY TIME FRAME ITS AN ASCENDING TRIANGLE SO GOING LONG MEANS YOU ARE ON THE RIGHT SIDE OF THE WAR
I CAN ALSO SEE STRONG ACCUMULATION HEADING TO RESISTANCE LEVEL WHICH SIGNALS A POTENTIAL BREAKOUT TO HIGHER...
price going to retest the support level before rallying down
this is a potential setup check it out and trade it
the double top pattern is seen in the daily time frame and in the 4 hrs chart its retesting before it rallies down you can set your own profit targets
Mine are as seen on the chart
USE PROPER RISK MANAGEMENT !!!!!!!!
AN INVERTED HEAD AND SHOULDER PATTERN IS VISIBLE IN THE 30 MINUTES CHART WHICH THE PRICE ALREADY HAS BROKEN THE NECKLINE AND
I EXPECT A 25 PIPS BULL RUN TO AN UPPER SUPPORT LEVEL .
PATIENCE IS GOLD WHEN IT COMES TO FOREX
ACCEPTING LOSSES TOO IS CRUCIAL PEACE OUT !!!!!!!!
IM LOOKING TO SHORT ON THIS ONE I HAVE A PENDING ORDER JUST BELOW THE NECKLINE OF THE H&S THAT IS CLEARLY VISIBLE ON THE 1 HR TIME FRAME
JUST BE CAREFULLY SINCE I TRADE BASED ON THE IG CLIENT SENTIMENT AND NOW ITS A MIXED SIGNAL THOUGH 54% OF THE CLIENTS ARE NET LONG SO I HAVE SOME HOPE .
TRADING IS MY CAREER ITS MY HOBBY ITS MY PASSION ITS EVERYTHING
ONE...
ON THE 1 HOUR CHART AN INVERTED HEAD AND SHOULDER IS JUST ON ITS FINISHING STAGES AND THE FOLLOWING WILL HAPPEN
THE PRICE BREAK OUT OF THE NECKLINE AND RALLY UP TO THE DISTANCE SAME AS THAT OF THE HEAD WHICH IS A KNOWN CHARACTERISTIC OF H&S BREAKOUTS
THE SAME TARGET LEVEL HAPPENS TO BE A KEY LEVEL THATS TESTED MORE THAN TWICE THAT EVEN MAKES THING MORE...
Im sorry guys I have not been posting lately but now I'm back officially
We are looking at the pound yen and we are waiting for the price to touch the 1st support and toucj=h the trend line and give us a clear signal to go long then we go long to the first target around 145.560 then we will see what happens next .
But the price can rally up to the resistance...
AFTER THE MARKET HAS MET WITH A KEY RESISTANCE ZONE IT HAS BOUNCED OFF AND IS HEADING DOWN TO MEET A KEY SUPPORT LEVEL BUT REMEMBER THE MOVE DOWN WILL NOT BE SWIFT SO
SET TP ON THE DOTTED LIKE LINE AND THE STOP LOSS ABOVE THE UPPER RESISTANCE ZONE
PEACE!!!!!1
NOT MUCH TO SAY BUT WATCH OUT FOR THE PAIR SINCE THE MACD INDICATOR HAS SHOWN A BULLISH BIAS ON A 4HRS CHART THEREFORE ITS MORE LIKELY PRICE WILL MOVE UP A HIT THE GREEN LINE WHICH SHOULD BE YOUR TAKE PROFIT AND THE UPPER LINE OF THE LOWER SUPPORT ZONE AS THE STOP LOSS . THANK YOU AND TRADE SMARTLY
THE PAIR IS APPROACHING A MAJOR SUPPORT LEVEL WHERE PRICE GOT REJECTED TWICE . WHILE THE PRICE IS APPROACHING THE LEVEL IT IS COMPLETING THE FORMATION OF AS DOUBLE TOPS PATTERN WHICH CAN SHOW THAT PRICE MAY BREAK THE SUPPORT LEVEL AND HIT A DAILY TRENDLINE THAT WAS TESTED SEVERAL TIMES
THE PAIR HAS BEEN MOVING CREATING A SERIES OF LOWER LOWS AND FACING REJECTION IN A VERY POTENTIAL RESISTANCE LEVEL , THUS A BULLISH PENNANT IS FORMED SHOWING THAT THE MARKET IS ON A REST BEFORE MOVING IN ITS UPWARDS DIRECTION , WHERE IT CAN MEET THE STRONG RESISTANCE ZONE AND MAYBE CAN BREAK IT OR GET REJECTED AGAIN . WATCH OUT !!! DROP YOUR COMMENTS AND VIEWS BELOW .
PRICE HAS JUST BOUNCED OF THE MAJOR SUPPORT ZONE AND HEAD UPWARDS AND IN THE LONG TERM PRICE MAY HEAD AND HIT THE POTENTIAL SUPPORT ZONE BUT IT WILL TAKE TIME . BE PATIENT AND STAY CALM . WATCH OUT !!!!!!!
THE PRICE HAS BEEN MOVING IN A RANGE FOR A COUPLE OF WEEKS FOR THIS PAIR AND NOW THE PRICE IS APPROACHING A MAJOR SUPPORT LEVEL
AND AN INVERTED HEAD AND SHOULDER IS FORMED INDICATING A POSSIBILITY FOR A MAJOR BREAK IN THE SUPPORT LEVEL AND THE NECKLINE OF THE INVERTED HEAD AND SHOULDER . WATCH OUT FELLAS !!!!!!!
FROM THIS PARALLEL CHANNEL YOU CAN SEE THAT THERE IS A GREAT POSSIBILITY THAT EURUSD WILL HIT THE GREEN LINE AS A TAKE PROFIT AREA.
THEN THE PAIR MAY FALL WITH THE CHANNEL OR BREAK IT !!!!
